If an Organization Qualifies for Exempt Status for Federal Income

question 83

True/False

If an organization qualifies for exempt status for Federal income tax purposes, it is exempt from all Federal income taxes.

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Definitions:

Note Cards

Small cards used for recording and organizing information, often used in research and study.

Long-Term Retention

The ability to maintain and recall information over extended periods of time.

Margins

The edge or border of something, especially the blank border on each side of the print on a page.

Research And Development

The investigative activities a business conducts to improve existing products and procedures or to lead to the invention of new products and procedures.