Download The Tax Law of Associations by Bruce R. Hopkins PDF

By Bruce R. Hopkins

The Tax legislation of Associations summarizes the legislations pertaining to acquisition and upkeep of institutions' tax exemption. It explores quite a few different our bodies of tax legislations acceptable to exempt institutions, together with the non-public inurement doctrine, the intermediate sanctions ideas, the lobbying ideas, and the unrelated enterprise regulations. insurance additionally comprises: the political actions ideas, together with using political motion committees by way of institutions; institutions' use of for-profit subsidiaries; aiding companies; involvement in partnerships and different joint ventures; in addition to charitable giving and fundraising principles.

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2 HISTORY AND EVOLUTION OF ASSOCIATIONS A term that is infrequently used these days is guild. The dictionary advises that a guild is an association of individuals engaged in kindred pursuits or having common objectives; the word is often preceded by the adjective medieval. The contemporary association (along with certain other membership groups, such as labor unions and chambers of commerce) traces its history to these medieval guilds. Historically, these guilds were in the nature of societies or small business associations, with members being self-employed artisans or part of a small craft shop or cooperative.

4 Members of an association can be individuals, organizations (for-profit and/or nonprofit, tax-exempt or taxable), or both. Most associations in the United States are exempt from federal income taxation. State income taxation exemption is usually also available. org). org/betterworld (referenced throughout as ASAE, “How Associations Make a Better World”). 3 A finicky lawyer will take issue with the third of these elements, noting (1) that the phrase “legally incorporated” is redundant, in that an entity is either incorporated pursuant to a statute or it is not (and it is difficult for an organization to be “illegally incorporated”) and, more important, (2) an organization can be an association without being incorporated.

2, last paragraph. Americans devote more than 173 million volunteer hours each year—time valued at more than $2 billion—to charitable and community service programs through their associations, according to an ASAE Foundation study, referenced on the ASAE Web site. 33 ASAE Web site. fm Page 8 Monday, May 15, 2006 3:09 PM ASSOCIATIONS, SOCIETY, AND THE TAX LAW always tax-exempt organizations,34 their operating expenditures generate billions of dollars in tax revenues annually—from property taxes, payroll taxes, sales taxes, and 35 other types of taxes.

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