March 9, 2000
IRS Issues Proposed Rules for Corporate Sponsorships
The Internal Revenue Service has issued proposed regulations designed to guide charities that enlist corporations to support non-profit 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 non-profit football bowl games, symphony performances, and public-broadcasting productions. Charities must pay the tax, called UBIT, on income
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