Personal exemptions definition

Personal exemptions means the total exemption amount an individual is allowed to claim for the taxable year under Section 151, Internal Revenue Code, for:
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Related to Personal exemptions

  • QPAM Exemption is defined in Section 6.2(d).

  • INHAM Exemption is defined in Section 6.2(e).

  • Statutory Exemption means the statutory exemption under Section 408(b)(17) of ERISA and Section 4975(d)(20) of the Code.

  • Section 162(m) Exemption means the exemption from the limitation on deductibility imposed by Section 162(m) of the Code that is set forth in Section 162(m)(4)(C) of the Code.

  • New Exemption means the exemption from real property taxation provided hereunder with respect to the Exemption Area.