Sec. 5001. Clarification of unrelated business income tax treatment of entities treated as exempt from taxation under section 501(a)
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/bill/115/hr/1/rh/section-5001A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
501(a) Section 511 is amended by adding at the end the following new subsection: 501(a) For purposes of subsections (a)(2) and (b)(2), an organization or trust shall not fail to be treated as exempt from taxation under this subtitle by reason of section 501(a) solely because such organization is also so exempt, or excludes amounts from gross income, by reason of any other provision of this title. . The amendments made by this section shall apply to taxable years beginning after December 31, 2017.