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I am a FL non-profit with a pending 501c3 application. we…

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I am a FL...

I am a FL non-profit with a pending 501c3 application. we are a family foundation and we exist to director support youth development programs and raise money that will also support youth development programs. We have one item a book that we have purchased that we like to offer donors as a way to raise money. Not sure if we need to sell it and charge sales tax or if we can have a suggested donation that will back out FMV of what we paid for the book for their tax receipt?

Accountant's Assistant: The Accountant will know how to help. Is there anything else the Accountant should be aware of?

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Submitted: 4 months ago.Category: Tax
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Answered in 23 minutes by:
3/19/2018
Tax Professional: Barbara, Enrolled Agent replied 3 months ago
Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 6,365
Experience: 20+ years of experience in tax preparation; 30+ years of experience as a real estate/corporate paralegal.
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Welcome to Just Answer. My name is ***** ***** I will be happy to assist you.

Sales made by an exempt organization are taxable as to sales tax.

Florida has decided that in order to be fair exempt organizations selling the same items sold by another store should not have an unfair advantage of being able to sell at a lower price (without sales tax).

Please let me know if I can assist you further.

Thank you and best regards,

Barb

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Customer reply replied 3 months ago
please reference where you found this law. I'd like to print out the law for my records
Tax Professional: Barbara, Enrolled Agent replied 3 months ago

I'll look it up again and post the link here in a few moments.

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Tax Professional: Barbara, Enrolled Agent replied 3 months ago

Here are two links:

http://floridarevenue.com/taxes/businesses/Pages/nonprofit_sales_tax.aspx

http://www.floridasalestax.com/Florida-Tax-Law-Blog/2014/April/FLORIDA-TAX-EXEMPT-ENTITIES-SALES-AND-USE-TAX-HE.aspx

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Customer reply replied 3 months ago
This addresses tax exemption for purchases. If you review my original question is if for if we as a non-profit sell items. You answered in the affirmative so I need the exact law that address our selling and the requirement for charging sales tax so that we can have those specific instructions that back up your answer.
Tax Professional: Barbara, Enrolled Agent replied 3 months ago

Both links address both--purchases and sales.

Read through all of the information, and you will find it.

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Tax Professional: Barbara, Enrolled Agent replied 3 months ago

This is a direct "cut and paste" from the FL Department of Revenue link:

"With a few exceptions, when a nonprofit organization sells taxable items or services, or leases or rents commercial real property or transient rental property to others in Florida, the organization must register with the Department to collect, report, and remit sales tax."

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Customer reply replied 3 months ago
IS there any way you can reference the exact law or regulation rather than a blog post? That's what I need for my files and to follow the instructions for compliance.
Tax Professional: Barbara, Enrolled Agent replied 3 months ago

The first link is the Florida Department of Revenue website not a blog post.

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Tax Professional: Barbara, Enrolled Agent replied 3 months ago

Just following up with you to see if you have any other questions/concerns. If so, please let me know so I can continue to assist you.

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