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Exemption requirements - 501 (c) (3) organizations | Internal Revenue . . . Organizations described in section 501 (c) (3) are commonly referred to as charitable organizations Organizations described in section 501 (c) (3), other than testing for public safety organizations, are eligible to receive tax-deductible contributions in accordance with Code section 170
501 (c) organization - Wikipedia A 501 (c) organization is a nonprofit organization in the federal law of the United States according to Internal Revenue Code (26 U S C § 501 (c)) Such organizations are exempt from some federal income taxes Sections 503 through 505 set out the requirements for obtaining such exemptions
26 U. S. Code § 501 - LII Legal Information Institute For purposes of clause (i), the term “ load loss transaction ” means any wholesale or retail sale of electric energy (other than to members) to the extent that the aggregate sales during the recovery period do not exceed the load loss mitigation sales limit for such period
501c vs 501c3: Key Differences Tax Implications - UpCounsel Many people think that 501 (c) and 501 (c) (3) means the same thing, but they are actually two different tax categories in the Internal Revenue Code Both of them exempt organizations from paying corporate income taxes
501 (c) What? The Four Main Types of Tax-Exempt Organizations While there are many different types of tax-exempt nonprofit organizations recognized by the IRS, the four most common types are 501 (c) (3), 501 (c) (4), 501 (c) (5), and 501 (c) (6) When a new nonprofit applies for tax-exempt status, it’s important to choose the correct type
What’s the difference between 501(a), 501(c)(3) and 509(a)? Section 501 (c) (3) charities are further subdivided under Section 509 (a), basically between public charities and private foundations, such as the Gates Foundation or the Ford Foundation