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5/17/2016 7:18:39 PM
 
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Section 5: OPA Board Subject: Tax Status Msg# 949921
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Jeff:
Do you know if our tax exemption has changed since we restricted access to the public at our gates? I don't think it has. If what you are saying is true then we, the Ocean Pines Association, Inc. needs to change our way of doing business. I personally will not stand for the public being encouraged to use our very costly amenities for either a small insignifican fee or worse yet for free. We need to get a lawyer who will provide a written opinion that represent the interests of our membership. You were a practicing lawyer so I don't need to tell you that what I am looking for is available for a fee. A good lawyer could argue either side. Marty |
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For reference, the above message is a reply to a message where: Marty Common sense has nothing to do with anything and the IRS does not care at all about those things. For them it is simple... If the activity/amenity is available to the public it matches the reason for our tax exemption and is not taxable... no matter how large. If the activity is not available to the public, however, it is taxable. If it operates at a loss, the tax would be zero. Otherwise it would taxed at the appropriate rate. Jeff |
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