Small Block

Capital Absorption Opportunity · Tax-exempt organizations (26 U.S.C. § 501) · 501(c) Organizations

501(c)(12) Organizations

Definition

Benevolent life insurance associations of a purely local character, mutual ditch or irrigation companies, mutual or cooperative telephone companies, and like organizations, if 85 percent or more of their income is collected from members to meet losses and expenses; the paragraph has been in the Code since its 1954 enactment.[1]

Federal law

  1. Internal Revenue Code of 1954, Pub. L. 83-591, ch. 736, § 501, 68A Stat. 163. Enacted section 501(c)(12) as part of the Internal Revenue Code of 1954. Official text: govinfo.gov, U.S. Government Publishing Office.