We extend our heartfelt support to the communities impacted by Hurricane Helene in western North Carolina. We'll continue to share resources for nonprofits and how to help.
On February 21, 2019, the Center submitted comments to the IRS in response to the preliminary guidance issues on the applicability of unrelated business income tax (UBIT) to nonprofit parking and transportation expenses under Section 512(a)(7) of the Internal Revenue Code.
On March 26, the House unanimously approved legislation (H.B.
North Carolina nonprofits are presently exempt from virtually all state and local taxes, except for state sales tax. It is important to maintain documentation detailing your organizations tax-exempt status, such as its letter of determination from the IRS, at all times. If your letter of determination has been misplaced or otherwise lost, you may easily
Identical bills filed in the Senate (S.422) and in the House (
The Senate tax plan, which was passed as part of the Senate's version of the state budget for FY2015-17, would have made three changes that would harm nonprofits: