Topic: Exempt
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Answers to Common Questions
What is Exempt?
The word exempt is when you are free from an obligation or duty that is still required of others. An example of this would be a "tax exempt" status, which means you are free from having taxes withheld from your paycheck. Read More »
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What is Tax Exempt?
Tax exempt is a common term used to describe an exemption to paying taxes. Something that is tax exempt is an item in which taxes do not have to be paid for a specified reason, whether a charitable donation or work expense. Read More »
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What is Homestead Exemption?
A homestead exemption is a law that protects a homes resident from home value taxes and other circumstances upon the death of the homeowners spouse. These laws vary from state to state. Look here for more information: http://www.assetprotec... Read More »
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Featured Content:
Exempt
[ig-zempt](v.) To free from an obligation
(a.) Not subject to an obligation
Dictionary.com . See all 1 definitions »
More Common Questions
Answers to Other Common Questions
A non exempt employee is someone who works on an hourly basis and is eligible for overtime pay. The term non exempt comes from the fact that they are not exempt from the overtime pay requirements of the Fair Labor Standards Act.
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Tax exemption refers to not having to pay a specific state or federal tax on goods or services. Tax exemptions could be made available to an individual or an organization, however, you must receive it through the government.
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An exempt employee is someone who is exempt from the FLSA's overtime provisions. They are usually white collar administrative, executive, and professional employees.
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Exempt is defined as the exclusion or exception made for a certain factor in a situation. Someone might be exempt from taking an exam if they were sick for most of the semester, for example.
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A non exempt employee is not exempt from receiving overtime provisions of the Fair Labor Standards also known as FLSA. This is based on the duties that is performed.
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A tax exemption is a form of income or payment that does not have to be included in your taxes. For example, a charitable donation is considered to be a tax exemption, meaning you do not have to pay taxes on it.
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