Tax Exempt Organizations

Catalog description

Elective Course Course Requirement: exam Fulfills Current Concentration Elective: Business Law- Corporate Governance and Transactions Track, Business Law- Health Care Law Track This course studies non-profit organizations that are exempt from the federal income tax. It begins by considering the public policy that supports the existence of a tax exempt sector. It then considers the formation of tax exempt organizations, the IRS tests for federal tax exemption and other legal requirements of exempt status. It examines, in detail, specific types of exempt organizations: religious organizations and churches, educational organizations, health care organizations and arts organizations. The course then moves on to cover the charitable contribution to exempt organizations and various funding devices. Next, it examines the unrelated business income tax on otherwise tax exempt organizations. The course ends with a consideration of the private foundation status of certain types of charitable organizations. The course grade will be based on classroom participation and a final examination.