Not-for-Profit: Deadline Approaching to Renew New York City Charitable Property Tax Extension
10/12/2011
Charitable organizations that qualify for New York City charitable property tax exemptions are reminded that they have until Monday, October 24, 2011 to file the exemption renewal form to ensure they continue to qualify for this exemption.
Qualifying properties are owned by a charitable organization and are used for a charitable purpose under New York State law. Federal tax exempt status does not automatically qualify an organization for this City tax exemption. Properties that no longer meet the requirements or who fail to return the renewal forms will have their benefits revoked for the 2012 tax year.
For more information please visit http://www.nyc.gov/finance or contact Thomas Lanning, CPA, J.H. Cohn partner and a member of the Firm’s Not-for-Profit Industry Practice, at tlanning@jhcohn.com or 646-834-4108, or your J.H. Cohn engagement partner at 877-704-3500.
Circular 230 Notice: In compliance with U.S. Treasury Regulations, the information included herein (or in any attachment) is not intended or written to be used, and it cannot be used, by any taxpayer for the purpose of i) avoiding penalties the IRS and others may impose on the taxpayer or ii) promoting, marketing, or recommending to another party any tax related matters.