§432:2-503  Taxation.  Every society
organized and operating or licensed under this article shall be, from the time
of such organization, exempt from every state, county, and municipal tax,
except real property taxes and unemployment compensation taxes; provided that
nothing in this section shall be deemed to exempt the association or society
from liability to withhold such taxes payable by its employees and pay the same
to the proper collection officers, and to keep such records and make such
returns and reports, as may be required in the case of other corporations,
associations, or societies similarly exempt from the taxes hereinabove first
mentioned; provided further, that the exemption hereby granted as to general
excise taxes under chapter 237 shall not apply to any activity the primary
purpose of which is to produce income. [L 1987, c 347, pt of §2]