Idaho State Statutes - Idaho Attorney Directory

(1)
Except as provided in subsection (4) of this section, an organization
described in section 501 of the internal revenue code, and the additional
organizations listed below shall be specifically exempt from taxation under
this chapter unless such exemption is denied under section 502, 503 or 504 of
the internal revenue code:
(a) Fraternal beneficiary societies, orders, or associations, operating
under the lodge system or for the exclusive benefit of the members of a
fraternity itself operating under the lodge system;
(b) Farmer's or other mutual hail, cyclone, casualty, or fire insurance
companies or associations (including interinsurers and reciprocal
underwriters of the same class) the income of which is used or held only
for the purpose of paying losses or expenses;
(c) Federal land banks and national farm loan associations, as provided
in the federal farm loan act, as amended.
(2) Farmer's cooperatives shall be exempt from taxation under this
chapter to the extent exempted by section 521 of the internal revenue code.
(3) Federal savings and loan associations shall not be exempt from
taxation under this chapter.
(4) Unrelated business income as defined in the internal revenue code
shall be subject to taxation under this chapter.

Click here to visit the Official Idaho State Statutes