Low fat: for dairy products, they must contain between 0.5% and 2% fat. For meats to be labeled low fat, they must contain no more than 10% fat.

No cholesterol: Many foods have this on their label as if to suggest that the cholesterol was removed from the food, for example vegetable oils. Remember, only foods that contain animal products of any kind contain cholesterol. Foods from vegetable sources never do unless they are mixed with animal products like eggs, cheese, or meats.

Sugar Free:  Refers only to a lack of sucrose. Other sweeteners like honey, molasses, fructose, corn syrup contain calories from carbohydrates.

% Daily Values 
This information is designed to show the contribution the food in the package makes to your total daily recommended limits of certain nutrients negatively or positively associated with heart disease, high blood pressure, etc.  The percentages are valid if you are consuming a diet of 2000 or 2500 Calories. If you are trying to follow a weight loss diet or your total Calorie needs are lower (most small, older women), the percentages are not a good guideline to use. Instead, use total gram listed.