May 2, 2002
IRS Issues Final Rules on Corporate Sponsorship
Elizabeth Schwinn
The Internal Revenue Service has issued final regulations designed to guide charities that enlist corporations to support nonprofit events.
The government's proposal clarifies when charities can accept corporate sponsorships and avoid paying unrelated-business income tax on revenue they receive from such events as nonprofit football bowl games, symphony performances, and public-broadcasting productions. Charities must pay the tax on income from businesses that
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