tax-free vs exempt

tax-free and exempt both are adjectives.

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

tax-free (adjective)	exempt (adjective)
(of goods or funds) not taxed	(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 subject to taxation

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