422.34  Exempted corporations and organizations.

The following organizations and corporations shall be exempt from taxation under this division:

1.  All state, national, private, co-operative, and savings banks, credit unions, title insurance and trust companies, savings and loan associations, production credit associations, insurance companies or insurance associations, reciprocal or inter-insurance exchanges, and fraternal beneficiary associations.

2.  An organization described in section 501 of the Internal Revenue Code unless the exemption is denied under section 501, 502, 503, or 504 of the Internal Revenue Code.

Section History: Early form

  [C35, § 6943-f30; C39, § 6943.066; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, § 422.34]

Section History: Recent form

  92 Acts, 2nd Ex, ch 1001, § 239, 251; 94 Acts, ch 1165, §20

Internal References

  Referred to in § 422.33, 422.37

Previous Section 422.33

Next Section 422.34A

Return To Home index

© 2000 Cornell College and League of Women Voters of Iowa

Comments about this site or page? webmaster@legis.iowa.gov.
Please remember that the person listed above does not vote on bills. Direct all comments concerning legislation to State Legislators.

Last update: Wed Aug 16 21:03:56 CDT 2000
URL: /DOCS/IACODE/1999SUPPLEMENT/422/34.html
jhf