Joint Ventures Involving Tax-Exempt Organizations, 4th Edition

CHAPTER 14Joint Ventures with Universities

1. § 14.1 Introduction
2. § 14.3 Colleges and Universities IRS Compliance Initiative (New)
3. § 14.5 Faculty Participation in Research Joint Ventures
4. § 14.6 Nonresearch Joint Venture Arrangements
5. § 14.7 Modes of Participation by Universities in Joint Ventures (Revised)

§ 14.1 INTRODUCTION

p. 1111. Add the following new subsection at the end of this section:

(b) The 2017 Tax Act (Pub. L. No. 115-97)

The 2017 Tax Act (Pub. L. No. 115-97) (“the Tax Act”) made significant changes to the taxation of charitable organizations, including colleges and universities, with one particular provision targeted at certain colleges and universities, some of whom will be subject to an additional new tax on their investment income.

Because of the numerous uncertainties amid likely substantial tax liabilities, some of which must be paid via estimated tax payments, many affected colleges and universities have requested that Treasury delay implementation of this and other new provisions so that they have a reasonable period of time to “estimate our new tax burden” and “budget for this dramatic tax increase.”^32.1 In addition to interpretive guidance from Treasury, organizations and practitioners await revised Form 990-T, whereby UBIT, the focus of many of the changes, will be reported as well as Form 4720, Return of Certain Excise Taxes Under Chapters 41 and 42, in regard to reporting under § 4968 (tax applicable to certain private colleges and universities on ...