Since I am classified as a non-profit organization for federal income tax purposes, do I need to file a personal property tax return?
Possibly. Ohio Revised Code 5709 contains the various types of organizations exempt from reporting personal property. However, if a non-profit organization is engaged in business to the extent that it uses any of its property in conducting activity that is in direct competition with a for-profit entity, the non-profit organization’s property will be subject to the personal property tax and must be reported. Example: A church bookstore sells religious books, placing it in direct competition with all other for-profit bookstores.
Related Questions
- If we are a tax exempt organization for federal income tax purposes (such as a 501(c)(3) corporation, do we automatically qualify for property tax exemption?
- Since I am classified as a non-profit organization for federal income tax purposes, do I need to file a personal property tax return?
- Does a non-profit organization with an income tax exemption have to file a tax return?
