Joint Ventures Involving Tax-Exempt Organizations, 2022 Cumulative Supplement

ISBN-13: 9781119985204 / Angielski / Miękka / 2022

Sanders

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Preface xiAcknowledgments xvChapter 1: Introduction: Joint Ventures Involving Exempt Organizations 11.4 University Joint Ventures 11.5 Low- Income Housing and New Markets Tax Credit Joint Ventures 11.6 Conservation Joint Ventures 21.8 Rev. Rul. 98- 15 and Joint Venture Structure 21.10 Ancillary Joint Ventures: Rev. Rul. 2004- 51 21.14 The Exempt Organization as a Lender or Ground Lessor 21.15 Partnership Taxation 31.17 Use of a Subsidiary as a Participant in a Joint Venture 31.22 Limitation on Private Foundation's Activities That Limit Excess Business Holdings 41.24 Other Developments 4Chapter 2: Taxation of Charitable Organizations 92.1 Introduction 92.2 Categories of Exempt Organizations (Revised) 152.3 501(c) (3) Organizations: Statutory Requirements 192.4 Charitable Organizations: General Requirements 222.5 Categories of Charitable Organizations (New) 232.6 Application for Exemption 252.7 Governance 342.8 Form 990: Reporting and Disclosure Requirements (Revised) 352.9 Redesigned Form 990 (New) 372.10 The IRS Audit (Revised) 372.11 Charitable Contributions (Revised) 42Chapter 3: Taxation of Partnerships and Joint Ventures 533.1 Scope of Chapter 533.3 Classification as a Partnership (Revised) 563.4 Alternatives to Partnerships 703.7 Formation of Partnership 703.8 Tax Basis in Partnership Interest 703.9 Partnership Operations 713.10 Partnership Distributions to Partners 723.11 Sale or Other Disposition of Assets or Interests 723.12 Other Tax Issues 73Chapter 4: Overview: Joint Ventures Involving Exempt Organizations 794.1 Introduction 794.2 Exempt Organization as General Partner: A Historical Perspective 804.6 Revenue Ruling 2004- 51 and Ancillary Joint Ventures 824.9 Conversions from Exempt to For- Profit and from For- Profit to Exempt Entities 824.10 Analysis of a Virtual Joint Venture 82Chapter 5: Private Benefit, Private Inurement, and Excess Benefit Transactions 855.1 What Are Private Inurement and Private Benefit? 855.2 Transactions in Which Private Benefit or Inurement May Occur 875.3 Profit- Making Activities as Indicia of Nonexempt Purpose 895.4 Intermediate Sanctions (Revised) 895.7 State Activity with Respect to Insider Transactions 99Chapter 6: Engaging in a Joint Venture: The Choices 1016.1 Introduction 1016.2 LLCs 1026.3 Use of a For- Profit Subsidiary as Participant in a Joint Venture (Revised) 1036.5 Private Foundations and Program- Related Investments (Revised) 1156.6 Nonprofits and Bonds 1206.7 Exploring Alternative Structures (Revised) 1226.8 Other Approaches 126Chapter 7: Exempt Organizations as Accommodating Parties in Tax Shelter Transactions 1357.2 Prevention of Abusive Tax Shelters 1357.3 Excise Taxes and Penalties 136Chapter 8: The Unrelated Business Income Tax 1378.1 Introduction 1378.3 General Rule 1388.4 Statutory Exceptions to UBIT 1398.5 Modifications to UBIT 1408.7 Calculation of UBIT 140Chapter 9: Debt- Financed Income 1579.1 Introduction 1579.2 Debt- Financed Property 1579.3 The 514(c) (9) Exception (New) 1589.6 The Final Regulations 158Chapter 10: Limitation on Excess Business Holdings 16110.1 Introduction 16110.2 Excess Business Holdings: General Rules (Revised) 16110.3 Tax Imposed 16310.4 Exclusions (Revised) 164Chapter 11: Impact on Taxable Joint Ventures: Tax- Exempt Entity Leasing Rules (New) 16911.3 Internal Revenue Code 168(H) 169Chapter 12: Healthcare Entities in Joint Ventures 17112.1 Overview 17112.2 Classifications of Joint Ventures 17212.3 Tax Analysis 17312.4 Other Healthcare Industry Issues 17512.5 Preserving the 50/50 Joint Venture 17612.9 Government Scrutiny 17612.11 The Patient Protection and Affordable Care Act of 2010: 501(R) and Other Statutory Changes Impacting Nonprofit Hospitals 17712.12 The Patient Protection and Affordable Care Act of 2010: ACOs and Co- Ops: New Joint Venture Healthcare Entities (Revised) 180Chapter 13: Low- Income Housing, New Markets, Rehabilitation, and Other Tax Credit Programs 18113.2 Nonprofit- Sponsored LIHTC Project 18113.3 Low- Income Housing Tax Credit (Revised) 18213.4 Historic Investment Tax Credit 18613.6 New Markets Tax Credits (Revised) 19613.10 The Energy Tax Credits 21213.11 The Opportunity Zone Funds: New Section 1400Z- 1 and Section 1400Z- 2 (Revised) 213Appendix 13B 275Chapter 14: Joint Ventures with Universities 29114.1 Introduction 29114.3 Colleges and Universities IRS Compliance Initiative 29714.5 Faculty Participation in Research Joint Ventures 29814.6 Nonresearch Joint Venture Arrangements 30114.7 Modes of Participation by Universities in Joint Ventures (Revised) 301Chapter 15: Business Leagues Engaged in Joint Ventures 31315.1 Overview 31315.2 The Five- Prong Test (Revised) 31415.3 Unrelated Business Income Tax 315Chapter 16: Conservation Organizations in Joint Ventures 31716.1 Overview 31716.2 Conservation and Environmental Protection as a Charitable or Educational Purpose: Public and Private Benefit 31716.3 Conservation Gifts and 170(h) Contributions (Revised) 31816.7 Emerging Issues 344Chapter 17: International Joint Ventures 34517.5 General Grantmaking Rules 34517.11 Application of Foreign Tax Treaties 347Chapter 19: Debt Restructuring and Asset Protection Issues 35119.1 Introduction 35119.2 Overview of Bankruptcy 35119.3 The Estate and the Automatic Stay 35219.4 Case Administration 35319.5 Chapter 11 Plan 35419.6 Discharge 35519.7 Special Issues: Consequences of Debt Reduction 355Index 357