Hot Tax Topics for Nonprofits

State Sales Tax – Consequences of the Wayfair case

Nonprofits need to consider the application for state and local sales taxes, whether they are buying or selling goods and services. This presentation will address topics that we are frequently asked about by clients, including such questions as:

• Can my organization avoid paying sales tax on its purchases? If yes, how do we qualify? Aren’t the rules on this the same in every state? 
• Are the goods or services that we sell subject to sales tax? If yes, when are we obligated to collect and remit sales tax to a state?
• If we’re selling to a purchaser in another state, do we still have to collect the sales tax? What are the implications of the 2018 Supreme Court decision in the Wayfair case for this question?
• If we sell products/services that are delivered via streaming or downloading, could they still be subject to sales tax?
• Our selling activity is limited to a few events a year (e.g., our annual fundraiser or trade show). Must we collect sales tax at those events?
• What happens if we don’t collect sales tax and we should be doing so? Are our customers the only ones who owe the tax, or is our organization also liable?

Property Tax – New Challenges by the States

Many nonprofits are eligible for exemption from property tax, but in many jurisdictions this exemption is under challenge.

• What eligibility standards typically apply for property tax exemption?
• What organizations are at risk of having their exemptions challenged?

An Introduction to Opportunity Zone Funds

The 2017 Tax Act added a new incentive for investors to fund projects and activities in low-income communities.

• What is an Opportunity Zone Fund? Where are Opportunity Zones located?
• How might a nonprofit benefit from connecting with an Opportunity Zone Fund?

Moderator
Cindy Lewin, Partner and Chair, Nonprofit Organizations Practice, Venable LLP

Speakers
Walter Calvert, Partner, Tax And Wealth Planning Practice, Venable LLP
Elizabeth Stieff, Associate, Tax and Wealth Planning Practice, Venable LLP

Schedule
Networking Luncheon, 12:00–12:30 p.m. ET
Program/Video Webinar, 12:30–2:00 p.m. ET

RSVP to this program.