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Home / Opinion Digests / Association Pays Tax for Beach Club Income (access required)

Association Pays Tax for Beach Club Income (access required)

A tax-exempt subdivision association must pay taxes on net income from two parking lots and a beach club that benefit the private interests of association members rather than the general public; the 4th Circuit affirms the Tax Court judgment, as the income is not “substantially related” to the association purpose of promoting social welfare, but ...