N.Y. Tax Law 1230 – Exempt organizations
§ 1230. Exempt organizations. Any tax imposed under the authority of sections twelve hundred one through twelve hundred five shall not be imposed on any transaction by or with the following:
Terms Used In N.Y. Tax Law 1230
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
(a) The state of New York, or any of its agencies, instrumentalities, public corporations (including a public corporation created pursuant to agreement or compact with another state or Canada) or political subdivisions where it is the purchaser, user or consumer;
(b) The United States of America, and any of its agencies and instrumentalities insofar as it is immune from taxation where it is the purchaser, user or consumer;
(c) The United Nations or other international organizations of which the United States of America is a member; and
(d) Any corporation, or association, or trust, or community chest, fund or foundation, organized and operated exclusively for religious, charitable, or educational purposes, or for the prevention of cruelty to children or animals, and no part of the net earnings of which inures to the benefit of any private shareholder or individual, and no substantial part of the activities of which is carrying on propaganda, or otherwise attempting to influence legislation; provided, however, that this subdivision shall not apply to an organization operated for the primary purpose of carrying on a trade or business for profit, whether or not all of its profits are payable to one or more organizations described in this subdivision. Nothing in this subdivision shall prohibit any organization exempt from taxation pursuant to this section from collecting the taxes imposed under the authority of section twelve hundred two-f from individuals who are doing business with such exempt organization and who are not exempt from taxation pursuant to this section.