LexisNexis® Legal Newsroom
Recent TAM on a Sport Association’s UBTI Finds Acceptable Split of Income and Employee Activity

One issue that perpetually plagues a tax-exempt organization is whether the income it receives from its unrelated trades or businesses (its "unrelated business taxable income" or UBTI) is so large that it will cause it to lose its tax-exempt status. This issue is difficult because there...

A Funny Thing about Charities ... Some of Them Play Football

Are College Football Bowls Entitled to IRC 501(c)(3) Tax Exempt Status? There's only a few weeks left in college football's regular season, and after that, the various bowls will invite teams to participate in post-season play. Several of the bowls are famous and esteemed, their mere mention...

Pepper Hamilton LLP: The IRS Has Revoked Tax-Exempt Status of More Than 275,000 Organizations

By Lisa B. Petkun and Michelle Moersfelder On June 8, 2011 the IRS revoked the tax-exempt status of more than 275,000 organizations. The revocations were a result of the Pension Protection Act of 2006 (PPA), which requires the IRS to automatically revoke the tax-exempt status of...

Portability of the Estate Tax Exemption of the First Spouse to Die - LexisNexis® Podcast

On this edition, attorney Randy Spiro discusses how the estate tax exemption of the first spouse to die is only portable if an election is made on that spouse's estate tax return. He explains how many surviving spouses will not want to incur the cost of filing when the estate of the first spouse...

Portability of the Estate Tax Exemption of the First Spouse to Die - LexisNexis® Podcast

On this edition, attorney Randy Spiro discusses how the estate tax exemption of the first spouse to die is only portable if an election is made on that spouse's estate tax return. He explains how many surviving spouses will not want to incur the cost of filing when the estate of the first spouse...

The GOP Offers a Sound Tax Reform Program in South Carolina

The Republicans in the South Carolina House are preparing a significant reform plan that will vastly improve the state's tax system. Although details are sketchy, the plan will broaden the sales tax base by eliminating two thirds of the exemptions and lower the rate by half a percentage. All remaining...

State Net Capitol Journal – April 6, 2015; No Money For 2016 Primaries In Louisiana Budget

Budget & Taxes No Money For 2016 Primaries In LA Budget There’s a good chance term-limited Louisiana Gov. Bobby Jindal (R) will make a run for the White House in 2016. And last year he signed a law to move the date of the state’s presidential primaries up two weeks to draw more...