eBook Per Exercise 23-12 (a) (L0.3) Marsh, Inc., a qualifying $ 501(c)(3) organization, Incurs lobbying expenditures of $400,000 for the taxable year and grassroots expenditures of $50,000. Exempt purpose expenditures for the taxable year are $1,100,000. Marsh elects to be eligible to make lobbying expenditures on a limited basis. Click here to access Exhibit 23.2. Therefore, Marsh is permitted to deducts x of lobbying and grassroots expenditures and the election results in a tax liability of Feed Check My Work Most organizations that are appropriately classified as exempt organizations are exempt from Federal income tax Four exceptions to the general statement exist, however. An exempt organization that engages in a prohibited transaction or is a so-called fender organization is subject to tac ! the organization is classified as a private foundation, it may be partially subject to tax. Finally, an exempt organization is subject to turn unrelated business taxable income. Previous eBook Per Exercise 23-12 (a) (L0.3) Marsh, Inc., a qualifying $ 501(c)(3) organization, Incurs lobbying expenditures of $400,000 for the taxable year and grassroots expenditures of $50,000. Exempt purpose expenditures for the taxable year are $1,100,000. Marsh elects to be eligible to make lobbying expenditures on a limited basis. Click here to access Exhibit 23.2. Therefore, Marsh is permitted to deducts x of lobbying and grassroots expenditures and the election results in a tax liability of Feed Check My Work Most organizations that are appropriately classified as exempt organizations are exempt from Federal income tax Four exceptions to the general statement exist, however. An exempt organization that engages in a prohibited transaction or is a so-called fender organization is subject to tac ! the organization is classified as a private foundation, it may be partially subject to tax. Finally, an exempt organization is subject to turn unrelated business taxable income. Previous