From Longman Dictionary of Contemporary Englishtax exemptˌtax exˈempt adjective PETif savings, income etc are tax exempt, you do not have to pay tax on them
Examples from the Corpus
tax exempt• These were tax exempt bonds issued by state and local governments to provide financing for private sector investment in plants and equipment.• At issue is a college course Gingrich taught in 1993-95 with financial support from tax exempt foundations.• It has contributed to the decline in direct portfolio investment as opposed to indirect investment through tax exempt institutions.• Note that eurobonds are unlikely to attract tax exempt investors such as pension funds, given the lower yield associated with bearer status.From Longman Business Dictionarytax-exemptˈtax-exˌempt1 noun [countable]TAX an investment on which you do not have to pay taxThere is strong investor demand for tax-exempts.tax-exempttax-exempt2 adjectiveTAX1tax-exempt investments, savings, income etc are not taxeda tax-exempt savings accountissuers of tax-exempt bonds2an organization that is tax-exempt does not have to pay taxa tax-exempt Friendly SocietySome hospitals risk losing their tax-exempt status. —tax exemption noun [countable, uncountable]The sales tax exemption for newspapers and magazines has been lifted. 