exempt vs untaxed

exempt and untaxed both are adjectives.

Word	Noun	Adjective	Verb	Adverb
exempt	No	Yes	Yes	No
untaxed	No	Yes	No	No

exempt (adjective)	untaxed (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)	untaxed (verb)
grant exemption or release to
grant relief or an exemption from a rule or requirement to