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Address any reply to: 300 l=. 8`-h St Austin, Tex. 78101 <br />Telephone Number:(512)397 -5291 <br />r L 1 y J L��1... <br />Internal Revenue Service <br />Date: In reply refer to: <br />July 1, 1974 A:FA:EO:WRB:aj <br />AW8 c E0 : 74,4238 <br />Lower Arkansas Water Management <br />Association <br />Box 1161 <br />(109 West Beech Street) <br />Lamar, Colorado 81502 <br />Internal Revenue Code: Section 501(c)(4) <br />Address Inquiries to District <br />Director of Internal Revenue: Austin, Texas <br />Accounting Period Ending: December 31 <br />Gentlemen: <br />On the basis of your stated purposes and the understanding that your oper- <br />ations will continue as evidenced to date or will conform to those proposed <br />in your ruling application, we have concluded that you are exempt from <br />Federal income tax under the provisions of the Internal Revenue Code section <br />indicated above. Any changes in operations from those described, or in your <br />character or purposes, must be reported immediately to your District Director <br />for consideration of their effect upon your exempt status. You must also <br />report any change in your name and address. <br />You are not required to file Federal income tax returns so long as you retain <br />an exempt status, unless you are subject to the tax on unrelated business <br />income imposed by section 511 of the Code, in which event you are required to <br />file Form 990 -T. You are required to file Form 990, Return of Organization <br />Exempt From Income Tax, only if your gross receipts each year are normally <br />more than $5,000. If a return is required, it must be filed by the 15th day <br />of the fifth month following the end of your annual accounting period. The <br />law imposes a penalty of $10 a day, up to a maximum of $5,000, for failure <br />to file a return on time. <br />Unless specifically excepted you are liable for taxes under the Federal Insur- <br />ance Contributions Act (social security taxes). Also, unless excepted, you are <br />liable for tax under the Federal Unemployment Tax Act if, during the current or <br />preceding calendar year, you have one or more employees at any time in each of <br />20 weeks, or you pay wages of $1,500 or more in any calendar quarter. <br />