 | United States. Congress. Senate. Committee on Finance - Taxation - 1950 - 948 pages
..."SEC. 101. The following organizations shall be exempt from taxation under this chapter — ******* "(14) Corporations organized for the exclusive purpose...which itself is exempt from the tax imposed by this chapter; The following amendment to section 101 (14) would appear to be adequate: "* * * Provided,... | |
 | United States. Tax Court - Law reports, digests, etc - 1950 - 1678 pages
...exclusively to charitable * * * purposes." Under subdivision (14) it claims exemption as a corporation "organized for the exclusive purpose of holding title...which itself is exempt from the tax imposed by this chapter." This and other courts have frequently stated that statutes creating an exemption must be... | |
 | United States. Internal Revenue Service - Internal revenue - 1968 - 1034 pages
...organizations. Section 501 (c) (2) of the Code provides for the exemption from Federal income tax of corporations organized for the exclusive purpose of...expenses, to an organization which itself is exempt under section 501 (a) of the Code. After its third year of operation, the title-holding corporation... | |
 | United States. Tax Court - Law reports, digests, etc - 1957 - 1408 pages
...which Is carrying on propaganda, or otherwise attempting, to Influence legislation ; • ****•• (14) Corporations organized for the exclusive purpose...which Itself is exempt from the tax Imposed by this chapter ; »SEC. 302. EXEMPTION OP CERTAIN ORGANIZATIONS FOR PAST TEARS. (d) PROFITS INUBINO TO THE... | |
 | Administrative law - 1961 - 566 pages
...exempt organizations. The following organizations are referred to in subsection (a) : • * * * • (2) Corporations organized for the exclusive purpose of...expenses, to an organization which itself is exempt under this section. § 1.50l(e)(2)- 1 Corporations organized to hold title to property for exempt organizations.... | |
 | United States. Congress. House. Committee on Ways and Means - Social security - 1961 - 520 pages
...such Act, as amended and supplemented, such corporations are exempt from Federal income taxes. (2) Corporations organized for the exclusive purpose of...expenses, to an organization which itself is exempt under this section. (3) Corporations, and any community chest, fund, or foundation, organized and operated... | |
 | United States. Tax Court - Law reports, digests, etc - 1950 - 1992 pages
...11 (a), Twelfth, Revenue Act of 1916, exempting income received by any "Corporation or association organized for the exclusive purpose of holding title...itself is exempt from the tax imposed by this title." A similar provision now appears as section 101 (14) of the Internal Revenue Code. If the petitioner... | |
 | United States. Tax Court - Taxation - 1964 - 992 pages
...(6) The following corporations shall be exempt from taxation under this act: *•••••• (b) Corporations organized for the exclusive purpose of...-which Itself is exempt from the tax Imposed by this act. • •••••• (e) Corporations organized and operated exclusively for religious, charitable,... | |
 | United States. Tax Court - Law reports, digests, etc - 1950 - 1678 pages
...exclusively to charitable * * * purposes." Under subdivision (14) it claims exemption as a corporation "organized for the exclusive purpose of holding title...which itself is exempt from the tax imposed by this chapter." This and other courts have frequently stated that statutes creating an exemption must be... | |
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Corporations organized for the exclusive purpose of holding title to property, collecting income therefrom, and turning over the entire amount thereof, less expenses, to an organization which itself is exempt from the tax imposed by this title... 
