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Not For Profit/Exempt Organizations Blog

Tag Archives: contributions to single member LLCs

IRS Finally Confirms that Contributions to Single Member LLCs Owned by Charities Are Deductible

Posted in Charitable Giving, IRS Filings

On July 31, 2012, the IRS issued Notice 2012-52 (the “Notice”), providing long awaited confirmation that a charitable contribution to a limited liability company that is wholly owned by a charitable organization, and classified as a disregarded entity for U.S. federal income tax purposes (an “SMLLC”), will be treated as a contribution to a branch… Continue Reading