Flashcards in Taxes: Tax-Exempt Organizations Deck (2)
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Taxes:
Tax-Exempt Organizations
Tax-Exempt Organizations
- Charities, labor organizations, social clubs, pension and profit sharing trusts, and private foundations
- must apply for and receive exemption
- must file if gross receipts > $50k (not churches)
- Operate exclusively for tax-exempt purpose
- Not for influencing politics
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