Apostolic Or Religious Association

Apostolic Or Religious Association means:
an association that is generally exempt from income taxation provided that it has a common treasury. If it engages in business activities, it may still be tax exempt, but the members must report their shares of the income on their personal tax returns, whether or not such income is distributed. The term apostolic generally refers to New Testament teachings.

See the entries Income Tax and State Income Tax in the American Encyclopedia of Law.