Section 11-2403. Exemptions

The tax imposed by this chapter shall not apply
  to the following:
    (a) The state of New York, or any of its agencies,  instrumentalities,
  public  corporations (including a public corporation created pursuant to
  agreement  or  compact  with  another  state  or  Canada)  or  political
  subdivisions;
    (b)  The  United  States  of  America,  and  any  of  its agencies and
  instrumentalities insofar as it is immune from taxation;
    (c) The United Nations or other international organizations  of  which
  the United States of America is a member; and
    (d)  Any  corporation,  or  association, or trust, or community chest,
  fund or foundation, organized and operated  exclusively  for  religious,
  charitable, or educational purposes, or for the prevention of cruelty to
  children  or animals, and no part of the net earnings of which inures to
  the benefit of any private shareholder or individual, and no substantial
  part of the activities of which is carrying on propaganda, or  otherwise
  attempting  to influence legislation; provided, however, that nothing in
  this paragraph shall include an organization operated  for  the  primary
  purpose  of  carrying  on a trade or business for profit, whether or not
  all of its profits are payable to one or more organizations described in
  this subdivision.