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10 Ways to Be Tax Exempt

        Money | Taxes

Use the Scientific Method

Organizations conducting scientific research can qualify for tax exemption if the research is carried out in the public interest. This means they must make the research results -- including patents, processes and formulas -- available to the general public. Activities that qualify under this exemption would include conducting research to discover the cure for a disease, supporting the scientific education of college or university students, and helping a community attract a new industry to the area. Not included are normal activities related to running a commercial or industrial concern, such as inspection or testing of materials.