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Is a non-profit exempt under IRC Section501(c)(2) exempt from

Customer Question
Virginia BPOL license Tax?...
Is a non-profit exempt under IRC Section501(c)(2) exempt from Virginia BPOL license Tax?
Submitted: 5 years ago.Category: Tax
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Answered in 1 minute by:
3/1/2012
Tax Professional: Ellen, Tax Attorney replied 5 years ago
Ellen
Ellen, Tax Attorney
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WebLaw :

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WebLaw :

Receipts of 501(c) organizations, except for unrelated business income taxable under the Internal Revenue Code which exceeds $10,000, are excluded from BPOL taxation. See Code of Virginia, § 58.1-3703.C.18.

WebLaw :

Here is a link to the statute:DANGEROUS URL REMOVED?000+cod+58.1-3703

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I think this is what you wanted to know. Please use the REPLY button if you have any questions concerning my answer. Otherwise please click ACCEPT so that I am paid by the site for answering.

Customer:

The organization's exempt purpose is to hold title and collect rental income, pay expenses, and distribute net income to another non-profit. The organization owns real estate and collects rental income. This is the sole activity and there is no unrelated business taxable income.

WebLaw :

The nonprofit would be exempt under the statute

Customer:

The local jurisdiction is taking the position that the the organization is subject to the BPOL tax and attempting collection.

WebLaw :

You will want to retain legal counsel as their position appears to clearly contradict the statute.Here is a link to a free legal referral site that may assist you in locating competent local counsel: www.Martindale.com

Customer:

Thank you!

WebLaw :

It has been my pleasure to work with you

Please let me know if I can assist you in the future by requesting me directly.

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a

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