MLchartDataset catalogue

Association

Term · Law · MLC-T-LAW-005307

An unincorporated organization of persons that the Internal Revenue Code taxes as a corporation, so it is subject to the corporate income tax. Since the check-the-box regulations of 1997, an eligible entity is generally classified as an association only by electing that status; the older test that counted corporate characteristics such as centralized management, continuity of life, and limited liability no longer decides the question.

Table 1. Record
IdentifierMLC-T-LAW-005307
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-005307",
  "term": "Association",
  "field": "Law",
  "definition": "An unincorporated organization of persons that the Internal Revenue Code taxes as a corporation, so it is subject to the corporate income tax. Since the check-the-box regulations of 1997, an eligible entity is generally classified as an association only by electing that status; the older test that counted corporate characteristics such as centralized management, continuity of life, and limited liability no longer decides the question.",
  "url": "https://mlchart.com/terminology/law/association/"
}

Record 383 of 5,439 in Law terminology (MLC-0107). Request the full dataset.