EXEMPT ORGANIZATIONS—CONT.

Internal Revenue Bulletin 2003-4 · 2026-10-03 edition · updated 2026-10-04 · United States

Rev. Proc. 2003–12, page 316. This procedure clarifies that an entity described in section 501(c)(3) of the Code can also meet the requirements of section 115(1). It also provides information on drafting dissolution clauses in the articles of organization of a section 501(c)(3) entity that requests a letter ruling that its income is excluded from gross income under section 115(1).

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▸Contents — Internal Revenue Bulletin 2003-4

Internal Revenue Bulletin 2003-4

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