Consultations with both large and small tax-exempt organizations involve the qualification and maintenance of tax-exempt status. We handle all types of tax matters that confront tax-exempt organizations, including unrelated business taxable income issues, private foundation matters, scholarship and remitted tuition issues, deferred compensation arrangements, sales tax and real property tax exemption questions. We also advise charities and individuals regarding the structuring of charitable gifts or bequests of appreciated property, and split-gifts with a retained income or remainder interest involving charitable lead or remainder trusts and charitable annuities.
Specifically, with regard to colleges and universities, we regularly provide counsel on the following issues:
Consultations with both large and small tax-exempt organizations involve the qualification and maintenance of tax-exempt status. We handle all types of tax matters that confront tax-exempt organizations, including unrelated business taxable income issues, private foundation matters, scholarship and remitted tuition issues, deferred compensation arrangements, sales tax and real property tax exemption questions. We also advise charities and individuals regarding the structuring of charitable gifts or bequests of appreciated property, and split-gifts with a retained income or remainder interest involving charitable lead or remainder trusts and charitable annuities.
Specifically, with regard to colleges and universities, we regularly provide counsel on the following issues:
- Compliance with not-for-profit tax exemption requirements under Federal and State tax laws and State real property tax-exemption laws
- Unrelated business income tax matters, including issues relating to internet sales, affinity credit cards, bookstore sales, sponsorship acknowledgements, royalties, and many other activities relevant to the unrelated business income tax
- Private inurement and intermediate sanction issues
- Joint ventures with for-profit entities
- Structuring ancillary activities using subsidiaries and other affiliates, including single member limited liability companies
- Qualified tuition programs under Internal Revenue Code Section 529
- Scholarship and remitted tuition issues
- Employment tax and income tax withholding requirements for non-resident alien and other employees
- Sales tax issues, including sales tax on transactions involving affiliated entities
- Structuring charitable gifts and bequests under the tax law
- Tax and financial issues relating to endowments and the return on them
- Real property tax exemption matters, including issues relating to potential non-exempt use of college and university property, and real property valuation and assessment controversies.
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