Restrictions on private foundations--Definition of terms.

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47-22-68.1. Restrictions on private foundations--Definition of terms.

Terms as used in §§47-22-68.1 to 47-22-68.9, inclusive, shall have the following meaning:

(1)"Excess business holdings," as defined in section 4943(c) of the Internal Revenue Code;

(2)"Internal Revenue Code," the United States Internal Revenue Code of 1954, as amended;

(3)"Private foundation," as defined in section 509(a) of the Internal Revenue Code;

(4)"Self-dealing," as defined in section 4941(d) of the Internal Revenue Code;

(5)"Taxable expenditure," as defined in section 4945(d) of the Internal Revenue Code.

Source: SL 1972, ch 244, §1.


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