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Chamber of commerce and board of trade

Internal Revenue Code section 501(c)(6) specifically defines chambers of commerce and boards of trade as exempt organizations.  A chamber of com­merce usually is composed of the merchants and traders of a city.

Board of trade. A board of trade often con­sists of persons engaged in similar lines of business.  For example, a nonprofit organization formed to regulate the sale of a specified agricul­tural commodity to assure equal treatment of producers, warehouse workers, and buyers is a board of trade.
 
Chambers of commerce and boards of trade usually promote the common economic interests of all the commercial enterprises in a given trade community.


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Page Last Reviewed or Updated: 25-Apr-2014