claim of exemption

claim of exemption
The assertion of a right given by law to a debtor to retain a portion of his personal property free from seizure and sale by his creditors under judicial process. 31 Am J2d Exemp § 1. See notice of exemption.

Ballentine's law dictionary. . 1998.

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  • exemption — n. 1) to claim an exemption 2) to grant an exemption 3) a draft (AE); tax exemption 4) an exemption for (he received an exemption for his elderly parents) 5) an exemption from (an exemption from the draft) * * * [ɪg zempʃ(ə)n] tax exemption . to… …   Combinatory dictionary

  • exemption — /ɪg zempʃ(ə)n/ noun the act of exempting something from a contract or from a tax ♦ exemption from tax or tax exemption the fact of being free from having to pay tax ● As a non profit making organisation you can claim tax exemption …   Dictionary of banking and finance

  • exemption — noun ADJECTIVE ▪ complete, full, total ▪ blanket ▪ The bill gives sensitive police files a blanket exemption. ▪ partial ▪ …   Collocations dictionary

  • exemption — Direct reductions from gross income allowed by the IRS. Bloomberg Financial Dictionary * * * exemption UK US /ɪgˈzempʃən/ noun ► [C or U] special permission not to do or pay something: exemption from sth »Formula One was granted an exemption from …   Financial and business terms

  • claim — {{Roman}}I.{{/Roman}} noun 1 statement saying that sth is true ADJECTIVE ▪ dubious, false, unfounded, unsubstantiated ▪ conflicting ▪ There are conflicting claims about the cause of the fire …   Collocations dictionary

  • tax exemption — tax exempt tax exempt 2 adjective TAX 1. tax exempt investments, savings, income etc are not taxed: • a tax exempt savings account • issuers of tax exempt bonds 2. an organization that is tax exempt does not have to pay ta …   Financial and business terms

  • United States Federal Income Tax Personal Exemption — A deduction for a Personal Exemption amount for the individual taxpayer, the taxpayer s spouse, and the taxpayer s child or other dependent for purposes of calculating a U.S. taxpayer s federal income tax is provided in the Internal Revenue Code… …   Wikipedia

  • Homestead exemption in Florida — Homestead is given meaning in three different contexts under Florida law: 1. exemption from forced sale before and at death per Art. X, Section 4(a) (b) of the Florida Constitution [http://www.flsenate.gov/Statutes/index.cfm?Mode=Constitution… …   Wikipedia

  • Homestead exemption — is a legal regime designed to protect the value of the homes of residents from property taxes, creditors, and circumstances arising from the death of the homeowner spouse. Laws enacting such protections are found in state statutes or… …   Wikipedia

  • Substantial shareholdings exemption — The substantial shareholdings exemption is an exemption from assessment of capital gains under corporation tax applicable to United Kingdom companies. The exemption is found in Schedule 7AC of the Taxation of Chargeable Gains Act 1992.The… …   Wikipedia

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