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Re: Flying Silos; Rendering unto IRS

May 27, 1997 12:12 PM
by apriorip

Hello Scott,

Excellent issue about taxes:

+ It is my understanding of the current tax code that, should an
+ organization "charge" for a function, the funds collected become
+ taxable.  If the same function is financed by "donations," no
+ tax liability accrues.  In the former case, the organization's
+ tax-exempt status might come up for investigation; in the latter,
+ the question does not arise, nor would it arise if the function
+ were gratis.  If my understanding is incorrect, I welcome
+ correction.

     This is quite correct with a peculiar exception according to my
understanding...if an officially registered tax-exempt organization
charges or requires a donation more than the actual market value of a
product then the charge/donation is tax PBS tax exempt
product for donation offers...M.K.R.D. I believe does taxes and can
answer more.

   I myself would like to see a healthier economic flow transcendent of

Patrick Alessandra, Psy.D.
***  A.Priori  /  1441C Bellevue Way NE  /  Bellevue, WA  98004  USA
***  /
***  (425) 455-9259

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