Carrie Slaton
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Introduction Tax-exempt organizations, while not generally subject to tax, are subject to tax on their “unrelated business taxable income” (“UBTI”). One category of UBTI is debt-financed income; that is, a tax-exempt organization that borrows money directly or through a partnership and uses that money to make an investment is generally subject to tax on a … Continue Reading
On July 1, 2021, the Supreme Court struck down a California donor-disclosure law as facially unconstitutional in its decision in Americans for Prosperity Foundation v. Bonta.[1] The law required nonprofits operating or soliciting contributions in California to disclose to the Attorney General of California information about all of its donors who contribute more than $5,000 … Continue Reading
U.S. District Court Finds Mayo Clinic Qualifies as an “Educational Organization”; Awards $11.5M UBTI Refund
By Richard M. Corn, Amanda H. Nussbaum, David Miller, Stuart Rosow and Carrie Slaton on Posted in IRS, Not-for-Profit, Tax, Tax-Exempt Organizations
The Impact of Americans for Prosperity Foundation v. Bonta on Donor Disclosure Laws
By Amanda H. Nussbaum, Richard M. Corn and Carrie Slaton on Posted in IRS, Not-for-Profit, Tax-Exempt Organizations
