Yadira works for an organization whose earnings are exempt from federal and state income taxes. The organization is barred from funding any political campaign. Given this information, Yadira most likely works for a(n):
A) S corporation.
B) C corporation.
C) not-for-profit corporation.
D) statutory close corporation.

Question

Quizplus · Accepted Answer

A not-for-profit corporation is typically exempt from federal and state income taxes and is prohibited from participating in political campaigns.

Yadira Works for an Organization Whose Earnings Are Exempt from Federal