Question
Which of the following is not a benefit of Internal Revenue Code Section 501(c)(3) status? Multiple Choice Exemption from paying federal taxes on most income.
Which of the following is not a benefit of Internal Revenue Code Section 501(c)(3) status?
Multiple Choice
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Exemption from paying federal taxes on most income.
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Likely exemption from paying state taxes on most income.
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Charitable donations to 501(c)(3) entities can reduce the donors taxable income.
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Can engage in political election campaign activity.
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Can participate in lobbying.
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College Accounting A Practical Approach Chapters 1-25
Authors: Jeffrey Slater
13th Edition
9780133791006
