Filed Under: Taxation
1 definition found for this term.
Definitions are presented in the order source books were published (most recent first).
Income Tax Law, 2/e$75.00 – $120.00
The exemption method provides relief from double taxation by exempting income that is subject to tax in the state of source from tax in the state of residence. The exemption method refers to the amount of income that is subject to tax. Hence, a taxpayer can be affected by the difference in tax rates between the state of source and the state of residence.