Two years ago, the Commonwealth Court sided with corporate taxpayers in Nextel Communications of the Mid-Atlantic, Inc. v. Commonwealth of Pennsylvania, declaring unconstitutional the state’s cap on deductible net operating…
Nonprofits: Don’t Overlook This Tax-Advantaged Way to Raise Funds
Editor’s note: On April 20, Governor Tom Wolf signed into law Act 15 of 2020. The law addresses a number of critical local and state government issues related to timing,…
The Nonprofit’s Guide to Tax-Smart International Giving
In the course of philanthropic business or collaborative efforts, nonprofits based in the U.S. may wind up donating funds to a foreign tax-exempt organization. Transnational donations are, by default, subject…
Can PA Tax Amnesty Program Benefit You or Your Business?
Pennsylvania’s budget for Fiscal Year 2016-17 included the chance for delinquent or non-filers to come into state tax compliance through a 60-day amnesty period. Last fall, the Pennsylvania Department of…
Unrelated Business Income: Two Common Examples for Nonprofits
For nonprofit organizations heavily involved in fundraising and charitable activities, recognizing unrelated business income (UBI) and reporting it accordingly is critically important to maintaining tax-exempt status. In a previous post,…