An Exempt Organization That Is Eligible to Elect Under §

question 119

True/False

An exempt organization that is eligible to elect under § 501(h) to engage in lobbying activities on a limited basis incurs no tax liability from lobbying, if the lobbying expenditures for the tax year do not exceed the lobbying expenditures ceiling.

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Definitions:

Secondary Sector

The segment of the economy concerned with manufacturing, processing, and construction, transforming raw materials into finished products.

Economy

A system of production, distribution, and consumption of goods and services within a particular geographic boundary.

Manufacturing

The process of converting raw materials, components, or parts into finished goods through the use of tools, human labor, machinery, and chemical processing.

Dead-End Job

A job with little to no possibility of career advancement or personal growth.