504B.3 - AVOIDING TAX LIABILITY. - Iowa Statutes

504B.3 AVOIDING TAX LIABILITY. The articles of incorporation of every such corporation shall be deemed to contain a provision requiring such corporation to distribute, for the purposes specified in its articles of incorporation, for each taxable year, amounts at least sufficient to avoid liability for the tax imposed by section 4942(a) of the Internal Revenue Code.          Section History: Early Form [C73, 75, 77, 79, 81, § 504B.3] Referred to in § 504B.6