2.702 -Tax-Exempt Organizations

Item	Description	FY2013	FY2014	FY2015	FY2016	FY2017
2.702	Tax-Exempt Organizations Corporations considered to be tax-exempt under section 501 of the Internal Revenue Code (such as religious, scientific or educational organizations) are taxable under the corporate excise only on their unrelated business taxable income as defined in section 512 of the Code. They are not taxable on other income and are not subject to the non-income measure or on the minimum excise. This non-taxation creates a tax expenditure. Origin: IRC, S. 501; M.G.L. c. 63, S. 30 Estimate: N.A.	N.A.	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.