Department of Transportation to develop recently-enacted legislation authorizing the issuance of tax-exempt
private activity bonds for transportation projects.
Nelson argued that DOI income was tax-exempt
income to the corporation, and, as such, passed through to the shareholder.
debt was issued by the Economic Development Corp.
Thus, the Tax Court held that UCC failed to qualify as a tax-exempt
organization and an eligible charitable donee.
This securitization provides GMAC MMT attractive long-term senior funding and liquidity for $82 million in tax-exempt
The proposed regulations generally treat a taxable corporation that changes its status to a tax-exempt
entity as having transferred all of its assets to a tax-exempt
entity immediately before the change in status becomes effective, regardless of whether an actual transfer of the assets has occurred.
In recent years, reportable UBTI of tax-exempt
organizations with alternative investments has increased significantly, possibly because of an increase in debt-financed activity conducted by the alternative investments.
Any time a pass-through entity has a tax-exempt
partner--which includes IRAs, Roth IRAs, pension plans, foundations or charities (entities that file Form 990)--the deductibility of losses by the non tax-exempt
entities will likely be reduced with rules similar to the passive loss limitations.
The Church of Freethought enjoys federal tax-exempt
status, but was unable to obtain similar status in Texas.
For the new Mets stadium, IDA will issue about $632 million in tax-exempt
and taxable bonds.
The proposed regulations would abandon the current approach of identifying solid waste disposal facilities that qualify for tax-exempt
financing in favor of focusing on the type of Facility used.
Before the early 1990s, the tax-exempt
finance industry was largely self-regulated.