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2. Personal exemption - Wikipedia

   en.wikipedia.org/wiki/Personal_exemption

   Under United States tax law, a personal exemption is an amount that a resident taxpayer is entitled to claim as a tax deduction against personal income in calculating taxable income and consequently federal income tax. In 2017, the personal exemption amount was $4,050, though the exemption is subject to phase-out limitations. The personal ...

3. Is My Business Tax-Exempt? - AOL

   www.aol.com/finance/business-tax-exempt...

   Employment tax: Tax-exempt businesses with employees must withhold Federal Income Tax Withholding (FITW) from employee wages and contribute to Social Security and Medicare taxes (FICA). Non-501(c ...

4. Tax exemption - Wikipedia

   en.wikipedia.org/wiki/Tax_exemption

   Tax exemption is the reduction or removal of a liability to make a compulsory payment that would otherwise be imposed by a ruling power upon persons, property, income, or transactions. Tax-exempt status may provide complete relief from taxes, reduced rates, or tax on only a portion of items.

5. What Does Tax-Exempt Mean? - AOL

   www.aol.com/finance/tax-exempt-tax-exemption...

   In fact, the tax-exempt organization is generally required by law to withhold federal income tax from employees’ wages. You might also have to pay Social Security taxes .

6. Taxation in the United States - Wikipedia

   en.wikipedia.org/wiki/Taxation_in_the_United_States

   Tax rates vary by state and locality, and may be fixed or graduated. Most rates are the same for all types of income. State and local income taxes are imposed in addition to federal income tax. State income tax is allowed as a deduction in computing federal income, but is capped at $10,000 per household since the passage of the 2017 tax law ...

7. Am I Exempt From Federal Withholding? Do I Still Get a Refund?

   www.aol.com/finance/am-exempt-federal...

   “If your income can be canceled out by allowable tax deductions leaving you with no tax liability, you can elect to be exempt from federal withholding,” said Ben Watson, a certified public ...