§432:2-503  Taxation.  Every societyorganized and operating or licensed under this article shall be, from the timeof such organization, exempt from every state, county, and municipal tax,except real property taxes and unemployment compensation taxes; provided thatnothing in this section shall be deemed to exempt the association or societyfrom liability to withhold such taxes payable by its employees and pay the sameto the proper collection officers, and to keep such records and make suchreturns and reports, as may be required in the case of other corporations,associations, or societies similarly exempt from the taxes hereinabove firstmentioned; provided further, that the exemption hereby granted as to generalexcise taxes under chapter 237 shall not apply to any activity the primarypurpose of which is to produce income. [L 1987, c 347, pt of §2]