Exemption

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Definitions
Exemption
Exemption Tax Deductions Taxation Personal and Dependency Exemptions Homestead Exemption Alternative Minimum Tax Real Estate Taxation Tax Policy
An exemption is a deduction allowed to a taxpayer based on their status or circumstances, reducing the amount of income subject to taxation. Exemptions can apply in various contexts including personal income tax, homestead exemptions, and the alternative minimum tax.
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