Section 501(c) of the US Internal Revenue Code

{
  "id": "MLC-T-INS-003035",
  "term": "Section 501(c) of the US Internal Revenue Code",
  "field": "Insurance and risk management",
  "definition": "A provision of US tax law that outlines the requirements for organizations to be recognized as tax-exempt by the Internal Revenue Service. This section defines different categories of non-profit entities, such as charitable organizations, social welfare groups, and trade associations. Organizations granted 501(c) status are generally exempt from federal income tax, though specific rules apply to each subsection.",
  "url": "https://mlchart.com/terminology/insurance/section-501-c-of-the-us-internal-revenue-code/"
}