43-1216. Application for reinstatement of tax exempt status
Any organization denied exemption under section 43-1201, paragraph 4 by reason of the provisions of prohibited transactions with respect to any taxable year following the taxable year in which notice of denial of exemption was received may, under regulations prescribed by the department, file claim for exemption. If the department pursuant to such regulations is satisfied that such organization will not knowingly again engage in a prohibited transaction, such organization shall be exempt with respect to taxable years subsequent to the year in which such claim is filed.
Section: Previous 43-1201 43-1202 43-1211 43-1212 43-1213 43-1214 43-1215 43-1216 43-1217 43-1231 43-1241 43-1242 43-1301 43-1311 43-1314 NextLast modified: October 13, 2016