Exemption; acquisition for fund raising by nonprofit entity
Sec. 25. (a) Transactions involving tangible personal property or
service are exempt from the state gross retail tax, if the person
acquiring the property or service:
(1) is an organization described in section 21(b)(1) of this
chapter;
(2) primarily uses the property or service to carry on or to raise
money to carry on its not-for-profit purpose; and
(3) is not an organization operated predominantly for social
purposes.
(b) Transactions occurring after December 31, 1976, and
involving tangible personal property or service are exempt from the
state gross retail tax, if the person acquiring the property or service:
(1) is a fraternity, sorority, or student cooperative housing
organization described in section 21(b)(1)(A) of this chapter;
and
(2) uses the property or service to carry on its ordinary and
usual activities and operations as a fraternity, sorority, or
student cooperative housing organization.
As added by Acts 1980, P.L.52, SEC.1. Amended by Acts 1980,
P.L.49, SEC.3; Acts 1981, P.L.77, SEC.5; P.L.192-2002(ss), SEC.56.
Last modified: May 28, 2006