Saturday, September 22, 2018

How Did Kentucky Nonprofits End Up Taxed?

In his article, Sam Dick discusses how specific nonprofits, like Lexington’s Habitat for Humanity are affected by the recent tax reform in Kentucky. This past July, the new 6% sales tax on ticket sales for nonprofit fundraising events took effect. Lexington’s Habitat for Humanity explains how the tax is affecting their fundraising efforts. During their golf tournament in July, they absorbed the sales tax on 24 golf teams at one thousand dollars a piece. This lead to a decrease in funds raised for the charity. The small nonprofits are getting hit the hardest because not only do they have to charge sales tax on tickets, but they must hire CPAs to guide them and having to revamp their practices. Many nonprofit leaders are frustrated at how much the sales tax is hurting their organizations. If the organization’s profits are down, less people are being helped. To learn more about how the new sales tax is affecting Kentucky nonprofits, click here: https://www.wkyt.com/content/news/How-did-Kentucky-nonprofits-end-up-taxed-490192831.html 

 

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https://lawprofessors.typepad.com/nonprofit/2018/09/how-did-kentucky-nonprofits-end-up-taxed.html

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