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Universities Tax Reform

Patterson Belknap Webb & Tyler LLP

IRS Issues Guidance Regarding College and University Excise Tax

As we previously reported, the 2017 tax reform bill instituted an excise tax on the investment income of certain private colleges and universities under new Section 4968 of the Internal Revenue Code (the “Code”). ...more

Foster Garvey PC

Decoding the Tax Cuts and Jobs Act – Part VIII: Charitable and Tax-Exempt Organizations / Estate and Gift Taxes

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Charitable organizations work hard to maintain exempt status. These organizations operate in a highly regulated landscape: In exchange for enjoying freedom from income taxes, they must comply with strict organizational and...more

McGuireWoods LLP

Universities Fight Endowment Tax

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As part of the 2017 Tax Act, Republicans enacted a controversial 1.14 percent excise tax on endowment returns. The tax is imposed on private universities with at least 500 students and $500,000 of assets per student. Last...more

Pullman & Comley, LLC

ALERT: The Tax Cuts and Jobs Acts Provisions Apply to Colleges and Universities

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Although much of the reporting on the Tax Cut and Jobs Act recently enacted by Congress has focused on the deductions for individuals and businesses, the bill also includes several provisions that apply specifically to...more

Pullman & Comley, LLC

Tax Cuts and Jobs Act

Pullman & Comley, LLC on

Although much of the reporting on the Tax Cut and Jobs Act recently enacted by Congress has focused on the deductions for individuals and businesses, the bill also includes several provisions that apply specifically to...more

Bond Schoeneck & King PLLC

Let’s BOND over the Tax Act Part II - The Higher Education Edition

In the spirit of accentuating the positive, there are a few bits of good news for colleges and universities in the Tax Act…as Mary Poppins might say, a spoonful (or three) of sugar to help the medicine go down. Unfortunately,...more

Proskauer - Tax Talks

Tax Reform’s Effect on the Sports Industry

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On Friday, December 22, 2017, President Trump signed into law H.R. 1, the $1.5 trillion tax reform law known as the Tax Cuts and Jobs Act (the “Tax Reform Act”). This alert describes provisions of the Tax Reform Act that we...more

Stinson LLP

Tax Cut and Jobs Act to Cause Significant Financial Disruption to Sports and Entertainment Businesses

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On Friday, December 22, 2017, President Trump signed into law the Tax Cuts and Jobs Act (the Act). While the emphasis of the Act focused on the reduction of corporate rates, and the repeal of the Affordable Care Act's...more

Goodwin

Changes on the Horizon for Colleges and Universities Under Tax Reform Legislation

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On December 20, 2017, Congress sent a major tax reform bill (the Act) to President Trump for signature. Once signed, the Act will result in significant changes for many institutions of higher education. Notably, new excise...more

Morgan Lewis

Tax Reform and Nonprofits: The Law Formerly Known as the Tax Cuts and Jobs Act

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On December 22, 2017, US President Donald Trump signed H.R. 1, enacting fundamental changes to the US tax law that affect all sectors of the economy, including nonprofits. Earlier this week, the US House of...more

McGuireWoods LLP

Tax Reform: Modifications to the Conference Committee’s Bill

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On Dec. 19, the Senate parliamentarian ruled that three provisions in the Tax Cuts and Jobs Act violated Senate procedure. These provisions, which were subsequently removed, related to the use of 529 savings accounts for...more

Faegre Drinker Biddle & Reath LLP

The Dust Settles: Key Provisions of the Tax Bill for Nonprofit Organizations

On December 20, 2017, Congress passed the Tax Cuts & Jobs Act (TCJA), which now awaits President Trump’s signature. Among many changes that the TCJA will bring to current federal tax law, several will affect tax-exempt,...more

Sheppard Mullin Richter & Hampton LLP

Tax Reform: Nonprofits and their Executives Brace for Impact

The Senate voted yesterday to begin formal negotiations with the House of Representatives to reconcile their two versions of the Tax Cuts and Jobs Act, a bill that seeks to make sweeping changes to federal tax law....more

Akerman LLP

The Tax Cut And Jobs Act: Passed To Make Higher Education Less Attainable?

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Having passed a critical hurdle in the Senate, it appears likely that some version of the Tax Cut and Jobs Act will be passed into law. It is also becoming clear that the passage of this Act will impact higher education by...more

McGuireWoods LLP

A Comparison of Key Provisions for Tax-Exempt Organizations

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The Senate weighed in on tax reform by releasing a revised Chairman’s Mark of the “Tax Cuts and Jobs Act” on Nov. 14, 2017. Many provisions of the Chairman’s Mark closely track the House bill, but the two differ substantially...more

Proskauer - Not for Profit/Exempt...

Updates for Tax-Exempt Organizations from the Senate Markup to the Tax Cuts and Jobs Act

Over the last several days, there have been significant developments relating to the Tax Cuts and Jobs Act, the pending tax reform legislation in Congress. On Thursday, a detailed summary of the Senate Finance Committee’s...more

K&L Gates LLP

Tax Cuts and Jobs Act Could have Far-reaching Effects on Higher Education

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The House of Representatives and the Senate are on a fast track to pass sweeping tax reform legislation that would have widespread implications for colleges and universities, their employees, and their donors. As part...more

Proskauer - Tax Talks

Tax Reform: Focus on the Sports Industry

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Over the last several days, there have been significant developments relating to the Tax Cuts and Jobs Act, the pending tax reform legislation in Congress. On Thursday, a detailed summary of the Senate Finance Committee’s...more

Proskauer - Tax Talks

Tax Planning Under the Tax Cuts and Jobs Act: Flow-Throughs Are the Answer to Everything

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The tax reform bills introduced in the House of Representatives and the Senate dramatically reduce the corporate tax rate from 35% to 20% and create added incentives for taxpayers to invest capital into U.S. businesses with...more

Morgan Lewis

Tax Reform and Nonprofits: The Devil’s in the Details

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The Tax Cuts and Jobs Act, currently under consideration in the US House of Representatives and Senate, proposes fundamental changes to the US tax law affecting all sectors of the economy, including nonprofit organizations....more

McDermott Will & Emery

Senate Tax Overhaul Bill Slaps Tax-Exempt Organizations

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In what can only be described as a brutal attack on the nonprofit sector, the Senate has proposed sweeping changes that would have dramatic adverse effects on all tax-exempt organizations. Whereas the latest version of the...more

McGuireWoods LLP

Tax Cuts and Jobs Act: Amendments Affecting Tax-Exempt Organizations

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Federal tax reform continues as House Ways and Means Committee Chair Kevin Brady (R-Texas) offered his second amendment to the Tax Cuts and Jobs Acts on Nov. 9, modifying recently introduced legislation discussed in...more

McGuireWoods LLP

Key-Provisions-Tax-Cuts-Jobs-Act-Tax-Exempt-Organizations

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The debate over federal tax reform officially began Nov. 2, 2017, when House Ways and Means Committee Chair Kevin Brady (R-Texas) introduced H.R.1, the Tax Cuts and Jobs Act. Several provisions of the legislation affect...more

Steptoe & Johnson PLLC

Could Tax Reform Threaten Higher Education?

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Given declining funding from government sources and the continued pressure to minimize tuition increases, it is critical for higher education institutions to encourage private giving. The primary catalyst for private giving...more

Roetzel & Andress

Governor Kasich Releases $144 Billion State Budget Proposal - What You Need to Know

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Yesterday, Governor Kasich released the executive version of the state’s two-year operating budget (Fiscal Years 2018-2019), which includes proposed spending of over $144 billion during the biennium. Similar to his previous...more

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