/tæks ɪɡˈzempt/ – adjecive
Definition: xch TAX-FREE.
A more thorough explanation: Tax-exempt refers to an organization or individual that is not required to pay taxes on certain income, activities, or property as specified by the law. This exemption is typically granted to entities that serve a charitable, religious, educational, or other tax-exempt purpose as defined by the relevant tax laws.
Example: The organization is recognized as tax-exempt under section 501(c)(3) of the Internal Revenue Code.