### Question
How does TAX EXEMPTION REQUIREMENTS FOR STATE AND LOCAL BONDS define 501(c)(3) organization?


### Answer
Under *26 U.S.C. § 150*, **501(c)(3) organization** is defined as:

> any organization described in section 501(c)(3) and exempt from tax under section 501(a)

#### Citation:
  - *26 U.S.C. § 150*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter B-Computation of Taxable Income > PART IV-TAX EXEMPTION REQUIREMENTS FOR STATE AND LOCAL BONDS > Subpart C-Definitions and Special Rules**

