Skip to Main Content
Tax Planning and Compliance for Tax-Exempt Organizations, Fifth Edition 2019 Cumulative Supplement, 5th Edition
book

Tax Planning and Compliance for Tax-Exempt Organizations, Fifth Edition 2019 Cumulative Supplement, 5th Edition

by Jody Blazek
March 2019
Intermediate to advanced content levelIntermediate to advanced
272 pages
7h 58m
English
Wiley
Content preview from Tax Planning and Compliance for Tax-Exempt Organizations, Fifth Edition 2019 Cumulative Supplement, 5th Edition

CHAPTER 10Instrumentalities of Government and Title‐Holding Organizations

  1. § 10.2 Governmental Units
  2. § 10.3 Qualifying for § 501(c)(3) Status
    1. (a)  Disadvantages of § 501(c)(3) Status
    2. *(d) Political Subdivisions
    3. (e)  Integral Parts

§ 10.2 Governmental Units

p. 207, second set of bullets, second item. Replace but at least one with all and replace applies with apply.

p. 207. Add to footnote 3:

See also Priv. Ltr. Rul. LR 201714001 in which income of taxpayer established by county to combat community deterioration was also excludable from gross income under Code Sec. 115(1) where income was derived from taxpayer's performance of essential governmental functions and held and used for the benefit of state, county, and other state political subdivisions. Also, because the taxpayer was instrumentality for IRC § 170(c)(1) purposes, contributions to it were deductible to the extent allowed under IRC § 170.

p. 208. Add after third bullet:

A charter school that operates independently from the state or local municipally controlled school board, in a case considering exemption from the Federal Insurance Contributions Act, was found not to qualify as an instrumentality of the state. The fact that its activities were similar to those of a government‐run local school did not offset the fact that the charter school was not controlled by the state.

p. 208. Add new bullet before last bullet:

Income from trust created by state political subdivision to receive net proceeds from sale of assets ...

Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
and much more.
Start your free trial

You might also like

PricewaterhouseCoopers 2008 Guide to Tax and Financial Planning

PricewaterhouseCoopers 2008 Guide to Tax and Financial Planning

PricewaterhouseCoopers LLP

Publisher Resources

ISBN: 9781119538196Purchase book