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36 U.S.C. § 40705 — Duty to maintain 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

in plain englishAI-generated · not legal advice

The corporation must run its operations so it qualifies as a tax-exempt organization. It must meet the requirements for a 501(c)(3) charity under the Internal Revenue Code.

The corporation must be run in a way, and for purposes, that qualify it for tax exemption under section 501(a) of the Internal Revenue Code -- as an organization described in section 501(c)(3) of that Code (the category for charitable, educational, and similar nonprofits).
the actual law source: uscode.house.gov ↗public domain

The corporation shall be operated in a manner and for purposes that qualify the corporation for exemption from taxation under section 501(a) of the Internal Revenue Code of 1986 (26 U.S.C. 501(a)) as an organization described in section 501(c)(3) of that Code (26 U.S.C. 501(c)(3)).

Source credit: (Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1336.)

history & why it existsrecord from the source credit
  • 1998Enacted · Pub. L. 105-225 · 112 Stat. 1336

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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