The provisions of this article shall not apply to:
(a) Insurance companies which pay the State a tax upon premiums; provided, however, that such exemption shall not extend to that part of the gross income of insurance companies which is received for the use of real property, other than property in which any such company maintains its office or offices, in this State, whether such income be in the form of rentals or royalties;
(b) Nonprofit cemetery companies organized and operated for the exclusive benefit of their members;
(c) Fraternal societies, organizations and associations organized and operated for the exclusive benefit of their members and not for profit; provided, however, that such exemption shall not extend to that part of the gross income arising from the sale of alcoholic liquor, food and related services, of such fraternal societies, organizations and associations which are licensed as private clubs under the provisions of the West Virginia Code.
(d) Corporations, associations and societies organized and operated exclusively for religious or charitable purposes;
(e) Production credit association, organized under the provisions of the federal "Farm Credit Act of 1933"; provided, however, that the exemptions of this section shall not apply to corporations or cooperative associations organized under the provisions of the West Virginia Code Article 19-40.
(1972 Code §19-1-3)