Syllable division derived from spelling — this word is not in the pronouncing dictionary, so no phonetic transcription is shown rather than a guessed one.
tax-exempt is a noun and adjective meaning "a security that is not subject to taxation". It carries 2 recorded senses.
a security that is not subject to taxation
Definitions, synonyms and semantic relations for tax-exempt come from Princeton University’s WordNet. Commonness is measured against a corpus of everyday English. Full sources and licences.