FEDERAL · 36 U.S.C. · Chapter 225
Tax-exempt status
Current through Pub. L. 119-102
The personal property and funds of the corporation, whether principal or income, so long as held or used only to carry out the purposes of the corporation, are exempt from taxation by the United States Government, the District of Columbia, and the territories and possessions of the United States.
Free access — add to your briefcase to read the full text and ask questions with AI
36 U.S.C. § 22507 (Tax-exempt status) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Source Credit
History
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1305.)
Editorial Notes
The words "so long as held or used only to carry out the purposes of the corporation" are substituted for "held or used for the purposes hereof, pursuant to the provisions of this chapter . . . so long as the same shall be so used" to eliminate unnecessary words. The words "the United States Government, the District of Columbia, and the territories and possessions of the United States" are substituted for "the United States or any Territory or District thereof" for clarity.