Exemptive



[ig-zemp-shuh n] /ɪgˈzɛmp ʃən/

noun
1.
the circumstances of a taxpayer, as age or number of dependents, that allow him or her to make certain deductions from taxable income.
2.
the act of .
3.
the state of being ; immunity.
n.

late 14c., from Old French exemption, exencion or directly from Latin exemptionem (nominative exemptio) “a taking out, removing,” noun of action from past participle stem of eximere (see exempt (adj.)).

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