1. Not all purchases are exempt from sales tax
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Topics: nonprofit tax, Sales and Use Tax, Nonprofits, Uncategorized
The Protecting Americans From Tax Hikes Act of 2015 (the Act), which was signed by the president on December 18, 2015, contains many provisions that directly affect tax-exempt organizations. Many recent tax provisions have been so-called “extenders,” which required passage of legislation annually in order for them to continue to remain in effect. These were typically passed at year end for the applicable year, making planning for such provisions impossible. Now, the year-end panic is over, as the Act makes many of these provisions permanent.
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Topics: Accounting, nonprofit tax, Nonprofits, PATH Act, Uncategorized