2.702 -Tax-Exempt Organizations

Item	Description	FY2009	FY2010	FY2011
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 and 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.