Some businesses, non-profits, and other organizations are given "tax exemption" - usually city/county officials being the primary. By showing their tax exempt number at a register, they do not have to pay sales tax on their purchase.
It depends on he local and which exemptions may be applicable to it's situation. Whatever it is exempt from, MUST be used for the Cos exempt purpose and not something else....so say a charity has gotten a property tax exemption for the building it uses, but then takes that property and rents it out to make money (catering hall)...that would end the exemption, at least for that income.
The interest earned on savings bonds is exempt from all state and local income tax and is deferred for federal income tax until sale or maturity.
No such thng existst for income tax, where qualifying and being certified as a 501(c) corporation, by the IRS means certain qualified income fro it will be tax exempt. Probably, you mean for sales tax. That is handled by each States tax dept., and actually normally is just being lisc. by the State and being a tax exempt entity.
In the United States, the only tax exemption that I know of for priests is the parsonage allowance and, in the case of a few religious organizations, the FICA tax. The church for which the priest works may be exempt from tax, but other than the above, the priest still pays taxes just like anyone else.
An exemption is something that is excluded. In taxes, there are various tax exemptions and types of income that are exempt from tax. There are also certain types of organizations that are exempt from tax.
Generally not...loses exemption if not used for the exempt purpose
No one particular "religion" is tax exempt. It is up to each individual church, temple, mosque, or denominational headquarters to file for tax exemption. This is usually done at the inception of that entity.
No, it applies to anyone other than a tax-exempt charity.
You would have to apply for the exemption certificate or number at your state or local tax office or both of them.
No. Not on federal taxes. Marital status nor age will exempt anyone from filing requirements for federal tax returns. I don't know about your state return.
Some businesses, non-profits, and other organizations are given "tax exemption" - usually city/county officials being the primary. By showing their tax exempt number at a register, they do not have to pay sales tax on their purchase.
It depends on he local and which exemptions may be applicable to it's situation. Whatever it is exempt from, MUST be used for the Cos exempt purpose and not something else....so say a charity has gotten a property tax exemption for the building it uses, but then takes that property and rents it out to make money (catering hall)...that would end the exemption, at least for that income.
It will depend on what type of taxes for which you are seeking exemption. Please provide more specific details on the type of exemption, the value, and where you live.
William H. McIlhany has written: 'The tax-exempt foundations' -- subject(s): Endowments, Tax exemption, Taxation
WA state is tax exempt for Residents of Alberta, there are some retailers that will not honor that exemption. Simply ask if they allow for tax exempt and they normally take a few extra min for the transaction
Tax laws vary from state to state, but most states recognize some form of tax exemption for houses of worship. The scope of any tax exemption will depend on the type of tax (eg property, sales, income) and, generally, whether or not the activity or property at issue is related to or used to support the exempt religious or charitable activities of the house of worship.