Rev. Rul. 56-334

An organization which has been held exempt from Federal income tax under section 501(c)(7) of the Internal Revenue Code of 1954 as a club organized and operated exclusively for pleasure, recreation, and other nonprofitable purposes, no part of the net earnings of which inures to the benefit of any private shareholder, is considered to be a social, athletic, or sporting club or organization for the purpose of the excise tax on club dues imposed by section 4241 of the Code.