Internal Revenue Code Section 501 A

501 a exemption from taxation.
Internal revenue code section 501 a. Findlaw codes are provided courtesy of thomson reuters westlaw the industry leading online legal research system. To be tax exempt under section 501 c 3 of the internal revenue code an organization must be organized and operated exclusively for exempt purposes set forth in section 501 c 3 and none of its earnings may inure to any private shareholder or individual. Q as r without specifying the act to be amended was executed by making the amendments to this section which is section 501 of the internal revenue code of 1986 to reflect the probable intent of congress.
An organization described in subsection c or d or section 401 a shall be exempt from taxation under this subtitle unless such exemption is denied under section 502 or 503. 1 section 501 a provides an exemption from income taxes for organizations which are described in section 501 c or d and section 401 a unless such organization is a feeder organization see section 502 or unless it engages in a transaction described in section 503. Tax code outlines which types of nonprofit organizations are tax exempt.
In addition it may not be an action organization i e it may not attempt to influence legislation as a substantial part of its. The section of this code that provides for exemption is section 501 a which states that organizations are exempt from some federal income taxes if they fall under sections 501 c or 501 d or under section 401 a. Exemption from tax on corporations certain trusts etc.
Internal revenue code 501. Q and redesignating former subsec. 109 280 1220 a which directed the amendment of section 501 by adding subsec.