Skip to main content
Find a Lawyer

Arizona Revised Statutes Title 10. Corporations and Associations § 10-3150. Private foundations; definition

Current as of January 01, 2025 | Updated by Findlaw Staff

A. Except if otherwise determined by a court of competent jurisdiction or to the extent no longer required by the internal revenue code of 1986, a corporation that is a private foundation as defined in § 509(a) of the internal revenue code of 1986 shall:

1. Distribute such amounts for each taxable year at a time and in a manner that does not subject the corporation to tax under § 4942 of the code.

2. Not engage in any act of self-dealing as defined in § 4941(d) of the code.

3. Not retain any excess business holdings as defined in § 4943(c) of the code.

4. Not make any taxable expenditures as defined in § 4944 of the code.

5. Not make any taxable expenditures as defined in § 4945(d) of the code.

B. For the purposes of this section, “code” means the internal revenue code of 1986 as amended.

Previous Part of Code Next Part of Code
Back to Chapter List

Cite this article: FindLaw.com - Arizona Revised Statutes Title 10. Corporations and Associations § 10-3150. Private foundations; definition - last updated January 01, 2025 | https://codes.findlaw.com/az/title-10-corporations-and-associations/az-rev-st-sect-10-3150/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

Was this helpful?

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About The Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to Find an Attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

Copied to clipboard