2.702 -Tax-Exempt Organizations
Item | Description | FY2010 | FY2011 | FY2012 |
---|---|---|---|---|
2.702 | Tax-Exempt Organizations
Corporations considered to be tax-exempt under section 501 of the Internal Revenue Code (such as religious, scientific and educational organizations) are exempt from tax under the corporate excise. The non-taxation of their net income and property creates a tax expenditure. Origin: IRC, S. 501, M.G.L. c. 63, S. 30(1) Estimate: N.A. |
N.A. | N.A. | N.A. |
Key:
ORIGIN | |
IRC | Federal Internal Revenue Code (26 U.S.C.) |
---|---|
M.G.L. | Massachusetts General Laws |
U.S.C | United States Code |
ESTIMATES | All estimates are in $ millions. |
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