Download The Tax Law of Unrelated Business for Nonprofit by Bruce R. Hopkins PDF

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By Bruce R. Hopkins

The Tax legislation of Unrelated company for Nonprofit corporations is a accomplished consultant to the tax legislation of unrelated companies for tax-exempt organisations, written by way of the best professional within the box.

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Ltr. Rul. 200510029. 81 Priv. Ltr. Rul. 200119061. 82 Id. 83 Priv. Ltr. Rul. 8950072. Thus, obviously, an exempt organization in this position, in seeking to maximize value from the disposition of property (particularly real property) in adherence to principles of fiduciary responsibility, must balance the amount of projected revenue against the projected income tax consequences. An attempt at full maximization of value may cause the entity to be classified, for federal tax purposes, as a dealer in the property.

3. 15 Reg. 513-1(b). The business expense deduction is the subject of IRC § 162. 8. 17 Reg. 513-1(b). , Prof’l Ins. Agents v. 2d 1097 (6th Cir. 1984). , Zell v. 2d 1139 (10th Cir. 1985); McDowell v. 2d 174 (3d Cir. 1961), cert. S. 919 (1961). 19 Vigilant Hose Co. v. C. ¶ 50,458 (D. Md. 2001). 20 Am. Acad. of Family Physicians v. 3d 1155 (8th Cir. 1996). 22 Traditionally, the IRS has almost always prevailed on the argument that an activity of a tax-exempt organization constitutes a trade or business.

In fact, it is rare for a tax-exempt organization to have shareholders,162 let alone to make payments to them. Moreover, the private inurement doctrine can be triggered by the involvement of persons other than individuals, such as corporations, partnerships, limited liability companies, estates, and trusts. The meaning of the statutory language today is barely reflected in its literal form and transcends the nearly century-old formulation: None of the income or assets of a tax-exempt organization subject to the private inurement doctrine may be permitted, directly or indirectly, to unduly benefit an individual or other person who has a close relationship to the organization, particularly those who are in a position to exercise a significant degree of control over the organization.

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