My nonprofit organization is a section 501(c)(3) organization and exempt from income taxation. Why must we file separately for a Welfare Exemption?
The income tax exemption does not automatically confer property tax exemption to a nonprofit organization. Both ownership and use of the property drive the Welfare Exemption. Mere ownership of property by a nonprofit corporation does not satisfy the requirements for property tax exemption. The property must also be used exclusively for an exempt (religious, scientific, hospital, or charitable) purpose and activity.
Related Questions
- My nonprofit organization is a section 501(c)(3) organization and exempt from income taxation. Why must we file separately for a Welfare Exemption?
- Should I file a tax return if I received U.S. income that is exempt from taxation under a treaty?
- Should I file a tax return if I received U.S. income exempt from taxation under a treaty?
