Business, Legal & Accounting Glossary
Denotes to any payment, allowance, benefit, etc. , that is not subject to taxation.
Denotes to any payment, allowance, benefit, etc., that is not subject to taxation.
adjective with no tax having to be paid
Example tax-free goods with no tax having to be paid.
A tax-free bond or account pays no income taxes on its gains.
Typical examples include municipal bonds, Roth IRA and Roth 401(k) accounts. In contrast, IRA, 401(k), 403(b), and 457 accounts and annuities are tax-deferred. Their gains pay no Federal income taxes while in the account, but are taxed at ordinary income tax rates when paid out as distributions.
duty-free
excluding taxes
net of tax
without taxes
tariff-free
Municipal bond
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This glossary post was last updated: 28th November, 2021 | 0 Views.