Origin: Internal Revenue Code (IRC) § 501 provides a general exemption from federal income tax for non-profit corporations. As provided in IRC § 512, the exemption does not apply to unrelated business income that such corporations earn from activities outside the scope of their exempt purposes. Massachusetts provides a corporate excise exemption for corporations that qualify for the federal exemption, but subjects unrelated business income to the net income measure of the excise.

Origin: IRC § 501; M.G.L. c. 63, § 30, M.G.L. c. 63, §38Y, M.G.L. c. 63, § 39.

Item Number
FY2021
FY2022
FY2023
FY2024
FY2025
2.702
330.5
387.0
400.7
404.1
403.0
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