Monthly News For January, 2020

THE NUN WON – PROPERTY TAX EXEMPTIONS

Posted on in Business, News, Nonprofit, Real Estate
THE NUN WON – PROPERTY TAX EXEMPTIONS

A so-called “home for the aged” can apply for real estate tax exemption under Section 5709.12 of the Ohio Revised Code. More familiar names for these homes may be residential care facility or nursing home. One requirement for exemption is that the facility “provide services for the life of each resident without regard to the resident’s ability […]

NO SURPRISE: NO TAX-EXEMPT STATUS FOR MEDICAL MARIJUANA ORGANIZATION

Posted on in Business, News, Nonprofit
NO SURPRISE:  NO TAX-EXEMPT STATUS FOR MEDICAL MARIJUANA ORGANIZATION

The legalization and prescription of so-called “medical marijuana” is increasing on a state by state basis. In a recent IRS Private Letter Ruling (No. 201940008), the organization at issue sought to obtain 501(c)(3) tax-exempt status. The organization raised funds to assist individuals in financial need to help them pay for their prescribed treatment with medical marijuana. […]