36 U.S.C. § 22507 — Tax-exempt status
submitted 28 years ago by Pub. L. 105-225 to r/title-36-PATRIOTIC-AND-NATIONAL-OBSERVANCES-CEREMONIES-AND-ORGANIZATIONS · 49 words · no verdicts yet
The corporation's personal property and funds — whether principal or income — are exempt from taxes by the U.S. government, the District of Columbia, and U.S. territories. This exemption only applies while the property is used for the corporation's purposes.
The corporation's personal property and its funds — both the original amount (principal) and any income earned — are exempt from taxation. This exemption applies to taxes from the United States government, the District of Columbia, and U.S. territories and possessions. But the exemption only holds as long as that property and money is held or used to carry out the corporation's purposes.
The personal property and funds of the corporation, whether principal or income, so long as held or used only to carry out the purposes of the corporation, are exempt from taxation by the United States Government, the District of Columbia, and the territories and possessions of the United States.
Source credit: (Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1305.)
- 1998Enacted · Pub. L. 105-225 · 112 Stat. 1305
A history note hasn’t been published yet. The record shows enactment by Pub. L. 105-225 on 1998-08-12.
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