The Tax Law of Charitable Giving. Bruce R. Hopkins. Читать онлайн. Newlib. NEWLIB.NET

Автор: Bruce R. Hopkins
Издательство: John Wiley & Sons Limited
Серия:
Жанр произведения: Личностный рост
Год издания: 0
isbn: 9781119756026
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Overview of Law

      Four Internal Revenue Code sections require highlighting at this point:

      1 The one providing federal income tax exemption for charitable organizations286

      2 The federal income tax charitable contribution deduction rules, which classify eligible charitable donees287 and provide that organizations that are charitable entities under the tax exemption rules are eligible charitable donees for purposes of that deduction288

      3 The federal gift tax charitable contribution deduction rules, which classify eligible charitable donees289

      4 The federal estate tax charitable contribution deduction rules, which classify eligible charitable donees290

      There are, however, certain organizations that cannot qualify for tax exemption purposes as charitable organizations that can qualify, for purposes of the law of charitable giving, as charitable donees. Nonetheless, these entities are all tax-exempt organizations. They are:

       A state, a possession of the United States, a political subdivision of a state or U.S. possession, the United States, or the District of Columbia—but only if the contribution is made for exclusively public purposes295

       A post or organization of war veterans, or an auxiliary unit or society of, or trust or foundation for, such a post or organization, that is organized in the United States or any of its possessions, if no part of its earnings inures to the benefit of any private shareholder or individual296

       A domestic fraternal society, order, or association, operating under the lodge system, but only if the contribution is to be used exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals297

       A cemetery company owned and operated exclusively for the benefit of its members, or a corporation chartered solely for burial purposes as a cemetery corporation and not permitted by its charter to engage in any business not necessarily incident to that purpose, if the company or corporation is not operated for profit and no part of its net earnings inures to the benefit of any private shareholder or individual298

      In addition, the following criteria must be met for an organization to be considered a charitable donee:

       It is created or organized in the United States or in a possession of the United States, or under the law of the United States, a state, the District of Columbia, or a possession of the United States.307

       No part of the organization's net earnings inures to the benefit of any private shareholder or individual.308

       It does not have as a substantial part of its activities attempts to influence legislation. The amount of permissible lobbying in this context is defined by the substantial part test or, if the charitable organization makes an election, the expenditure test.309 The federal tax law concerning attempts to influence legislation by charitable organizations is discussed extensively elsewhere. Скачать книгу