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Are Affiliated Organizations exempt from the payment of federal income taxes?

April 26, 2017affiliated exempt Federal income taxes Organizations payment

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Are Affiliated Organizations exempt from the payment of federal income taxes?

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Yes. The group ruling issued to the Amateur Athletic Union of the United States, Inc. by the Internal Revenue Service in January 1966,- recognized the national Amateur Athletic Union of the US, Inc. and its Affiliates as exempt from Federal income tax under section 501(c)(3) of the IRS Code. This means the Amateur Athletic Union of the US Inc. and its Affiliates are tax-exempt organizations. IRS publication 557 is an excellent source of information for Tax Exempt Organizations. This publication is available on the IRS web site. www.irs.