2001, ISBN: 9781234139995

RareBooksClub. Paperback. New. This item is printed on demand. Paperback. 254 pages. Original publisher: Washington : U. S. G. P. O. : For sale by the Supt. of Docs. , U. S. G. P. O. Co… More...

RareBooksClub. Paperback. New. This item is printed on demand. Paperback. 254 pages. Original publisher: Washington : U. S. G. P. O. : For sale by the Supt. of Docs. , U. S. G. P. O. Congressional Sales Office, 2001. OCLC Number: (OCoLC)46845893 Subject: Fiscal policy -- United States. Excerpt: . . . C. Private Benefit, Public Benefit and Exemption Summary of Full Report Submitted to the Joint Committee on Taxation For its Study of the Overall State of the Federal Tax System By Frances R. Hill, Esq. University of Miami Law School Tax exemption is reserved for organizations that operate for the exempt purposes set out in the Internal Revenue Code ( the Code ) and which provide benefits to appropriate recipients defined in relation to an organizations exempt purpose. These exempt purposes define the public benefits of an exempt organization. The public benefit is the benefit arising from the exempt activities. Section 501 ( c ) ( 3 ) public charities operate for the benefit of a charitable class defined in relation to the various organizations particular exempt status. Other exempt organizations also provide public benefits resulting from their various exempt purposes, even though these organizations have a less encompassing scope than do section 501 ( c ) ( 3 ) organizations. A private benefit, in contrast, is a benefit arising from a relationship with the exempt organization not defined by the public or exempt purpose. Private benefits are inconsistent with exempt status. For example, a labor union or trade association that provides football tickets to its members would be providing a private benefit because neither organization is created to provide this kind of benefit. This paper focuses on the elements of complexity arising from the three private benefit doctrines and identifies four elements of complexity that characterize private benefits concepts under current law: ( 1 ) the concurrent existence of three concepts of private benefit-private benefit, inurement, and excess benefit transactions-each of which presents unresolved issues and d. . . This item ships from La Vergne,TN., RareBooksClub<