exempt vs tax-exempt

exempt is not a noun while tax-exempt is a noun.

Word	Noun	Adjective	Verb	Adverb
exempt	No	Yes	Yes	No
tax-exempt	Yes	Yes	No	No

exempt (noun)	tax-exempt (noun)
	a security that is not subject to taxation

exempt (adjective)	tax-exempt (adjective)
(of persons) freed from or not subject to an obligation or liability (as e.g. taxes) to which others or other things are subject	(of goods or funds) not taxed
(of goods or funds) not subject to taxation

exempt (verb)	tax-exempt (verb)
grant exemption or release to
grant relief or an exemption from a rule or requirement to