Match the following statements with the correct description.

-Kentwood Rodeo Club
A) Exempt organization under § 501(c)(3).
B) May not be subject to Federal income tax.
C) Permits limited lobbying activities.
D) Exempt organization under § 501(c)(7).
E) Carries on a trade or business for the benefit of an exempt organization and remits its profits to the exempt organization.

Question

Match the following statements with the correct description.

-Kentwood Rodeo Club
A)	Exempt organization under § 501(c)(3).
B)	May not be subject to Federal income tax.
C)	Permits limited lobbying activities.
D)	Exempt organization under § 501(c)(7).
E)	Carries on a trade or business for the benefit of an exempt organization and remits its profits to the exempt organization.

Quizplus · Accepted Answer

Kentwood Rodeo Club is likely a social or recreational club, which would be classified as an exempt organization under § 501(c)(7).

Match the Following Statements with the Correct Description