To qualify as an exempt organization other than a church or an employees qualified pension or profit-sharing
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an employees’ qualified pension or profit-sharing trust, the applicant
Cannot operate under the ’lodge system’ under which
payments are made to its members for sick benefits.
Need not be specifically identified as one of the classes
on which exemption is conferred by the Internal Revenue
Code, provided that the organization’s purposes
and activities are of a nonprofit nature.
Is barred from incorporating and issuing capital stock.
Must file a written application with the Internal Revenue
Service
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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