Examlex
The purpose of the excise tax imposed on a private foundation for failure to distribute sufficient levels of income is to motivate the foundation to distribute more of its income for application to exempt purposes.
Spun
In a general context, it means to twist together strands to make yarn or thread, but can also refer metaphorically to presenting information in a particular way to influence perception.
Wove
A term used to describe the texture or pattern of material that has been interlaced to form a cohesive fabric, often through weaving.
Declaratory Act
A 1766 act passed by the British Parliament, asserting its right to bind the American colonies "in all cases whatsoever," including taxation, following the repeal of the Stamp Act.
Levy Taxes
The act of imposing or collecting a financial charge or other levy by a government from individuals or entities.
Q3: In most states, legal and accounting services
Q13: Almost all of the states allow_ treatment
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Q40: To satisfy the "not-for-profit" requirement for exempt
Q41: The government can appeal a decision of
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Q150: Under P.L. 86-272, the taxpayer is exempt