What’s the Difference Between a Public Benefit Corporation and a B Corp...
At risk of stating the blindingly obvious, all founders of for-profit companies want their businesses to be profitable. It’s the table stakes for starting and running a business. But what if you wanted...
View ArticleTransforming Lives Through Her Justice
I recently joined the board of Her Justice, a nonprofit legal services organization in New York City and longtime partner of Proskauer that provides assistance to women and their families living in...
View ArticleIndiana Military Museum loses the Educational Purpose Exemption Battle but...
Name: McClain Museum, Inc. v. Madison County Assessor - Date Issued: November 7, 2019 - Property Type: Museum - Assessment Year: 2014...By: Faegre Baker Daniels
View Article[Audio] Podcast: Key ESG Considerations for Family Offices and Foundations
In this Ropes & Gray podcast, asset management partners Isabel Dische and Melissa Bender, and tax and benefits counsel Morey Ward, provide an overview of key considerations for family offices and...
View ArticleIRS Announces Uptick in Conservation Easement Enforcement Actions
Taxpayers who have claimed charitable contribution deductions based on conservation easement arrangements should immediately contact a tax professional. Professionals who have engaged in the marketing...
View ArticleProskauer Joins Forces with Minds Matter Boston to Help Students from...
Every year, a staggering number of bright minds do not attend college as a result of their family’s financial circumstances. Minds Matter confronts this issue head on by offering a comprehensive and...
View ArticleAdidas’ All-In Dispute with Church Sheds Light on Trademark Abandonment and...
In 2005, Christian Faith Fellowship Church, a Chicago-based church group, filed two trademark applications for the mark ADD A ZERO for use on clothing, including shirts and caps that they later sold to...
View ArticleCharity Auctions and Connecticut Sales Tax
Auctions are a fun way for a charity to raise money. In a Connecticut auction, the auctioneer is deemed to be the retailer for sales tax purposes. Sales of tangible personal property or enumerated...
View ArticleEnd of a Decade – Checklist for California Nonprofits
As 2019 comes to a close, we thought about our customary note to nonprofit officers and directors to take a few moments to confirm that important year-end responsibilities have not been overlooked. But...
View ArticleThe Supreme Court - December 16, 2019
On Friday afternoon, the Supreme Court of the United States granted certiorari in the following cases: Trump v. Vance, No. 19-635: Whether as part of a district attorney’s criminal investigation...
View ArticleRecent legislation requires tax-exempt organizations to e-file forms
The Taxpayer First Act, enacted July 1, 2019, requires tax-exempt organizations to electronically file information returns and related forms. The new law affects tax-exempt organizations in tax years...
View ArticleCCPA Applicability Cheat Sheet (and a Special Note for Nonprofits)
It’s that time. The December 6, 2019, deadline to submit comments on the proposed California Consumer Privacy Act (CCPA) regulations has come and gone and the CCPA will go into effect in 14 days....
View ArticleAntitrust Settlement Reached in College Recruiting Case
On December 12, 2019, the Antitrust Division of the Department of Justice filed an antitrust case and simultaneous settlement against the National Association for College Admission Counseling (NACAC)....
View ArticleIRS Provides Additional Clarity Regarding Donations to Scholarship Granting...
On December 16, the Internal Revenue Service (IRS) and the Treasury Department issued proposed regulations... that provide some good news and needed clarification for C corporations, individuals, and S...
View ArticleFPPC Updates Materiality Standards
Amendments Adopted for Public Official Decisions Related to Nonprofit Gifts and Personal Financial Effects - As part of its ongoing efforts to update conflict of interest regulations, the Fair...
View ArticleCongress Repeals Nonprofit “Parking Tax” and Provides for Single-Tier Excise...
As part of a year-end consolidated appropriations act signed into law on December 20, 2019, Congress acquiesced to heavy criticism leveled by the nonprofit sector and retroactively repealed section...
View ArticleNonprofit Parking Tax Is Repealed as Part of Government Spending Bill
I was wrong. I was on record opining that the nonprofit parking tax would never be repealed. But, it is a December miracle, because late on Friday, December 20, 2019, President Trump signed a $1.4...
View ArticleGoodbye to 2019 … and the Parking and Public Transit Benefits Tax
Good news to close out the year: The “Further Consolidated Appropriations Act, 2020” (H.R. 1865 - the “2020 Act”) retroactively repeals the much maligned tax on qualified transportation fringe benefits...
View ArticleRepeal of Unrelated Business Income Tax on Qualified Transportation Fringe...
Late on Friday, December 20, 2019, President Trump signed into law government funding legislation for the 2020 fiscal year that includes a provision repealing Section 512(a)(7), commonly referred to as...
View ArticleHasta la Vista to the Reviled Nonprofit Parking Tax
Photo Credit: istock.com/nonnie192 Written by David Wheeler Newman Christmas came early for the nonprofit community when Congress repealed the hugely unpopular tax on parking and other transportation...
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