Sec. 1381. Organizations to which part applies

STATUTE

(a)

In general
This part shall apply to -

(1)

any organization exempt from tax under section 521 (relating to exemption of farmers' cooperatives from tax), and

(2)

any corporation operating on a cooperative basis other than an organization -

(A)

which is exempt from tax under this chapter,

(B)

which is subject to the provisions of -

(i)

part II of subchapter H (relating to mutual savings banks, etc.), or

(ii)

subchapter L (relating to insurance companies), or

(C)

which is engaged in furnishing electric energy, or providing telephone service, to persons in rural areas.

(b)

Tax on certain farmers' cooperatives
An organization described in subsection (a)(1) shall be subject to the taxes imposed by section 11 or 1201.

SOURCE
EFFECTIVE DATE