26 U.S.C. § 1381 — Organizations to which part applies

submitted 64 years ago by Pub. L. 87-834 to r/title-26-INTERNAL-REVENUE-CODE · 135 words · no verdicts yet

in plain englishAI-generated · not legal advice

A translation hasn’t been published for this section yet. The official text below is complete and authoritative.

the actual law source: uscode.house.gov ↗public domain

(a) In general

This part shall apply to—

(1)

any organization exempt from tax under section 521 (relating to exemption of farmers’ cooperatives from tax), and

(2)

any corporation operating on a cooperative basis other than an organization—

(A)

which is exempt from tax under this chapter,

(B)

which is subject to the provisions of—

(i)

part II of subchapter H (relating to mutual savings banks, etc.), or

(ii)

subchapter L (relating to insurance companies), or

(C)

which is engaged in furnishing electric energy, or providing telephone service, to persons in rural areas.

(b) Tax on certain farmers’ cooperatives

An organization described in subsection (a)(1) shall be subject to the tax imposed by section 11.

For treatment of income from load loss transactions of organizations described in subsection (a)(2)(C), see section 501(c)(12)(H).

Source credit: (Added Pub. L. 87–834, § 17(a), Oct. 16, 1962, 76 Stat. 1045; amended Pub. L. 108–357, title III, § 319(d), Oct. 22, 2004, 118 Stat. 1472; Pub. L. 115–97, title I, § 13001(b)(2)(O), Dec. 22, 2017, 131 Stat. 2097.)

history & why it existsrecord from the source credit

1962Enacted · Pub. L. 87-834 · 76 Stat. 1045
2004Amended · Pub. L. 108-357 · 118 Stat. 1472
2017Amended · Pub. L. 115-97 · 131 Stat. 2097

A history note hasn’t been published yet. The record shows enactment by Pub. L. 87-834 on 1962-10-16.

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