December 2019
Intermediate to advanced
256 pages
7h 49m
English
Content preview from Joint Ventures Involving Tax-Exempt Organizations, 4th Edition
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CHAPTER 15Business Leagues Engaged in Joint Ventures
§ 15.1 OVERVIEW
(a) General Rules
p. 1175. Add the following to the end of footnote 24:
Rev. Proc. 2017-58 (the reporting exception for associations with nondeductible lobbying expenses is $115 for 2018).
p. 1175. Delete Rev. Proc. 98-19 from footnote 26.
(b) § 501(c)(6) and Joint Ventures
p. 1177. Add the following to the end of the first full paragraph on this page:
On April 28, 2015, the NFL announced it would be giving up its tax-exempt status.40.1 The organization stated that the change in filing status made no material difference to the business and had become a distraction; however, many speculated that the league relinquished its tax-exempt status to avoid the requirement that it must publicly disclose its high-level executives' salaries.40.2
(c) Definition of § 501(c)(6) Organizations
p. 1178. Insert the following after the first sentence of the second full paragraph:
In addition, the members of the business league must “have a voice in [its] operation” and there must be “meaningful extent of membership support.”45.1
§ 15.2 THE FIVE-PRONG TEST
(a) Members with a Common Business Interest
p. 1181. Delete language in footnote 63 and replace it with the following:
Id. Cf. Rev. Rul. 83-164, 1983-2 C.B. 95 (organization representing diversified businesses that utilize computers manufactured by only one company is not exempt).
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