It's all tax-free income.

这些都是免税的收入。

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Article 7 the tax-free income refers to the following incomes which are included in the total income amount.

第七条收入总额中的下列收入为不征税收入。

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The expenses or property arising from the use of the tax-free income of an enterprise shall not be deducted and may not be depreciated or amortized.

企业的不征税收入用于支出所形成的费用或者财产，不得扣除或者计算对应的折旧、摊销扣除。

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If done right in a so-called stretch IRA, your grandchildren could have a lifetime stream of tax-free income.

FORBES: Still Plenty Of Time And Good Reasons For Back Door Roth IRA

That's because these investors often have large amounts of tax-free income, thanks to municipal bonds or Roth individual retirement accounts.

WSJ: The New Capital-Gains Maze

The USAA Texas Tax-Free Income Fund looks utterly pointless, given that Texas lacks an income tax from which to be exempt.

FORBES: The Funds: The Vanguard of Texas