- A tax-exempt not-for-profit organization needs to have processes in place to monitor its activities to ensure that the tax-exempt status of the organization's tax-exempt bonds is not lost.
- Organizations that enter into sponsorship agreements with different businesses need to understand the terms of each agreement to help it determine its exposure to taxable unrelated business income (UBI).
- States are becoming increasingly aggressive in looking for new sources of revenue. Historically, states have used nexus inquiries, expanded audits for sales/use and income taxes, and new types of business entity taxes to generate new revenue. Another threat, however, looms on the horizon: unclaimed property examinations.
- With the passage of Wisconsin Act 20, the oversight of charitable organizations operating in Wisconsin will be transferred from the Wisconsin Department of Safety and Professional Services (DSPS)—the old Wisconsin Department of Regulation and Licensing—to the Wisconsin Department of Financial Institutions (DFI).
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