Читать книгу The Law of Tax-Exempt Organizations, 2021 Cumulative Supplement - Bruce Hopkins R., Bruce R. Hopkins, David Middlebrook - Страница 44

CHAPTER NINETEEN Other Categories of Tax‐Exempt Organizations

  § 19.12 Farmers' Cooperatives

  § 19.18 Qualified Health Insurance Issuers

  § 19.20 ABLE Programs

  § 19.22 Governmental and Quasi‐Governmental Entities (a) Intergovernmental Immunity (b) Income Exclusion Rule (c) Integral Parts of States

§ 19.12 FARMERS' COOPERATIVES

p. 444, note 244. Insert following existing text:

Thus, the IRS denied recognition of exemption as a farmers' cooperative in the case of an entity with a membership of a mixture of farmers, community members, businesses, and anyone else interested in the selling and purchasing of fresh food (Priv. Ltr. Rul. 201835010).

§ 19.18 QUALIFIED HEALTH INSURANCE ISSUERS

p. 454, note 364. Insert following existing text:

See § 7.6(c), note 153.

§ 19.20 ABLE PROGRAMS

p. 458, last paragraph, second line. Delete ABLE Program and insert qualified ABLE program.

p. 458, note 402. Delete IRC § 529A and insert:

IRC § 529A(a); Reg. §§ 1.529A‐1(a), 1.511‐2(e), 1.529A‐2.

p. 459, carryover paragraph, last line. Delete used and insert pledged.

p. 459, carryover paragraph. Insert as first complete sentence:

The term ABLE account means an account established by an eligible individual, owned by the individual, and maintained under a qualified ABLE program.^403.1

p. 459, first complete paragraph seventh line. Insert qualified following term.

p. 459, second complete paragraph, first line. Insert generally following account.

p. 459, note 411. Delete sentence.

p. 459, note 414, first line. Delete second (1) and insert (i); insert before first period:

; Reg. § 1.529A‐3.

p. 459, note 414. Delete the last three sentences.

p. 459, note 415. Insert before period:

; Reg. § 1.529A‐6.

p. 460, note 416. Delete the last two sentences.

§ 19.22 GOVERNMENTAL AND QUASI‐GOVERNMENTAL ENTITIES

(a) Intergovernmental Immunity

p. 460, fourth complete paragraph, second sentence. Delete the like and insert other integral parts.

p. 460. Insert as fifth complete paragraph:

These entities are sometimes referred to as governmental units.^419.1 The IRS recognizes this general principle,^419.2 albeit with the caveat that it may be superseded by a specific statutory authorization of taxation.^419.3

(b) Income Exclusion Rule

p. 461, note 425. Delete 115(a)(1) and insert 115(1).

p. 461, second complete paragraph. Starting with fourth sentence, begin new paragraph.

p. 461, second complete paragraph (as amended). Insert as last sentence:

This body of law applies with respect to a governmental entity that is separately organized from a state or political subdivision of a state.^426.1

p. 464, first paragraph, second line. Delete political subdivisions and insert entities eligible for the exclusion.

(c) Integral Parts of States

p. 464, second paragraph, first line. Delete A third and insert As noted,^446.1a.

Notes

1 ^403.1 IRC § 529A(e)(6).

2 ^419.1 E.g., IRC §§ 170(b)(1)(A)(v) (see § 12.3(a)), 170(c)(1) (see § 7.15, text accompanied by note 526).

3 ^419.2 Rev. Rul. 87‐2, 1987‐1 C.B. 18; Rev. Rul. 71‐132, 1971‐1 C.B. 29; Rev. Rul. 71‐131, 1971‐1 C.B. 28; Gen. Couns. Mem. 14407.

4 ^419.3 E.g., IRC § 511(a)(2)(B). See § 24.1, text accompanied by note 22.

5 ^426.1 That is, IRC § 115(1) does not apply to income from an activity that the state conducts directly, rather than through a separate entity (Rev. Rul. 71‐131, 1971‐1 C.B. 28; Rev. Rul. 77‐261, 1977‐2 C.B. 45).

6 ^446.1 See § 19.22(a).