Voluntary Employees' Beneficiary Association

Voluntary Employees' Beneficiary Association means:
an association (VEBA) that provides for the payment of life, sickness, or accident benefits to individuals with employment-related bonds. A VEBA is exempt from federal income taxes if no part of its net earnings inures to the private benefit of any person and certain nondiscrimination requirements are met. Former IRC (check if this IRC provision is current here) §501(c)(9).

State Income Tax