the circumstances of a taxpayer, as age or number of dependents, that allow him or her to make certain deductions from taxable income.

the act of exempting.

the state of being exempted; immunity.

noun

accountability , answerability , liability , responsibility

noun

absolution , discharge , dispensation , exception , exoneration , immunity , impunity , privilege , release , deviation , exclusion , extraterritoriality , freedom , non obstante , omission