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Tax Exempt Organizations

SEC. 1381. ORGANIZATIONS TO WHICH PART APPLIES

1381(a) IN GENERAL. --This part shall apply to --

1381(a)(1) any organization exempt from tax under section 521 (relating to exemption of farmers' cooperatives from tax), and

1381(a)(2) any corporation operating on a cooperative basis other than an organization --

1381(a)(2)(A) which is exempt from tax under this chapter,

1381(a)(2)(B) which is subject to the provisions of --

1381(a)(2)(B)(i) part II of subchapter H (relating to mutual savings banks, etc.), or

1381(a)(2)(B)(ii) subchapter L (relating to insurance companies), or

1381(a)(2)(C) which is engaged in furnishing electric energy, or providing telephone service, to persons in rural areas.

1381(b) TAX ON CERTAIN FARMERS' COOPERATIVES. --An organization described in subsection (a)(1) shall be subject to the taxes imposed by section 11 or 1201.

1381(c) CROSS REFERENCE. --

For treatment of income from load loss transactions of organizations described in subsection (a)(2)(C), see section 501(c)(12)(H).

.01 Added by P.L. 87-834. Amended by P.L. 108-357.

BACK TO SEC. 501 EXEMPTION FROM TAX ON CORPORATIONS, CERTAIN TRUSTS, ETC.

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