USA associations combat major tax changes
American Society of Association Executives has sounded the alarm that associations and other nonprofit organizations are facing the biggest legislative threat in more than 50 years.
With sweeping tax breaks established in the 2017 Tax Cuts and Jobs Act set to expire in 2025, congressional leaders on both sides of the aisle in the USA Congress have called for next year’s tax package to be fully funded at a cost of $3-4 trillion.
Influential legislators and policy think tanks have called for taxing all tax-exempt organizations across the board, applying the 21% corporate tax rate to all non-donation net revenue. Membership dues, sponsorships, investment income and educational program revenue are only a few examples of what is potentially at risk.
Taken from the American Society of Association Executives website on September 24, 2024.
