Tax Exempt Form 2015: Fill & Download for Free

Oh! I can answer that one.Edit: But first, the NFL did give up its tax exempt status in 2015. Still, this is why they had it in the first place…The National Football League is a professional association, and was within the 501(c)(6) construct for nonprofits.It is not a 501(c)(3) that supports some kind of good works, and can accept donations, as a tax exempt program.501(c)(6) professional associations do not benefit directly from the income generated by the professional members.State Bars are a 501(c)(6), for example. I have been on the board of a 501(c)(6) for professional counselors for several years. It has always been funny to me, that our tax statute is covered by the same one that covers the NFL.Here is the law:The Statute, Regulations, and Analytical Framework of IRC501(c)(6)The StatuteIRC 501(c)(6) provides for exemption of business leagues, chambers of commerce, real estate boards, boards of trade, and professional football leagues (whether or not administering a pension fund for football players), which are not organized for profit and no part of the net earnings of which inures to the benefit of any private shareholder or individual.https://www.irs.gov/pub/irs-tege/eotopick03.pdf is a 68 page IRS document that explains it in detail.The basic thing is, the NFL is not the teams. The NFL can charge money for teams to belong to them as a professional association, just like a State Bar can charge lawyers to belong to the Bar. But neither the Bar nor the NFL makes money based on the professional activities of their members.501(c)(6) professional associations are the organizations that support people who are in that profession, and sometimes they are the organizations that determine who can be called a professional, but not always.There’s plenty that can be argued about whether or not the NFL is acting according to the 501(c)(6) intention, but the basis of the 501(c)(6) statute that makes it tax exempt is very important for professional associations.The organization I volunteer for could not manage without that tax exemption.To start undermining the 501(c)(6) laws, would open a can of worms that could hurt organizations like mine, that rely on it.There was a fake news thing going around that a tweet from the administration said it would stop the NFL from making so much money, tax exempt. As it turns out, the NFL had already given up that status, because it could make more money being non-tax exempt. See Donald Trump did not kill NFL's tax-exempt status for the details.

There are several strands of funding for the royals, but the most important ones are: the Sovereign Grant, the Duchies of Cornwall and Lancaster, Parliamentary Annuities, selective tax exemption, and private income.—The Sovereign Grant—Until 2012, the Queen (and every previous monarch since 1699) received government money in exchange for surrendering the revenues of the Crown Estate (the lands and properties owned directly by the Crown). This is called a Civil List agreement, and is entered into voluntarily by the monarch.At the end of 2011, the Sovereign Grant Act was passed, which means the reigning monarch now receives funding from the treasury directly related to the profits of the Crown Estate. This was done primarily to make Civil List negotiations less politically contentious, and to make the Crown less dependent on the goodwill of any particular prime minister.This was initially set at 15% of the profits, but has risen to 25%, primarily to fund the £369m refurbishment of Buckingham Palace.The agreement is ultimately still a voluntary arrangement - the monarch still technically owns the lands of the Crown Estate, and, while there are legal limits as to what they can do with it (it’s owned by the Crown, not by any given monarch, and as such is held in trust for future sovereigns), the monarch is technically entitled to the entirety of the revenue profits.For the year 2016–2017, the monarch received £42.8m from this arrangement.—The Duchies of Cornwall and Lancaster—The Queen and the Prince of Wales also receive income through the Duchy of Lancaster and Duchy of Cornwall, two private portfolios of land and property owned by the reigning monarch.This does not form part of the Crown estate (it is not administered by the treasury), and so is considered separate, but, like the Crown Estate, it is held in perpetual trust for future generations of Sovereigns, and the Sovereign is not entitled to the estate's capital (just the profits).The revenue profits of the Duchy of Lancaster are presented to the Sovereign each year and form part of the Privy Purse, providing income for both the official and private expenses of the monarch. In the financial year ending 31 March 2015, the Duchy of Lancaster was valued at £472m, providing £16m in income.The Duchy of Cornwall, likewise, operates in exactly the same way, but the profits are given to the monarch’s eldest child (the heir apparent). For the fiscal year 2011-12 the Duchy was valued at £728m with an annual profit of £18.3m paid to the Prince.—Annuities—The Duke of Edinburgh receives a parliamentary annuity of £359k per year from the Treasury. While other royals used to receive annuities, the vast majority were abolished under a provision in the Sovereign Grant Act, as part of a wider move to ‘slim down’ the royal family so as to directly pay only senior royals. Minor royals are funded (or not) at the Queen’s pleasure.—Tax Exemption—The Crown has a legal tax-exempt status because certain acts of parliament do not apply to it.Crown bodies such as The Duchy of Lancaster are not subject to legislation concerning income tax, capital gains tax or inheritance tax. Furthermore, the Sovereign has no legal liability to pay such taxes. Likewise, the Duchy of Cornwall has a Crown exemption and the Prince of Wales is not legally liable to pay income tax on Duchy revenues.It is worth noting, however, that The Queen and The Prince of Wales make voluntary payments to HM Revenue and Customs in lieu of tax to compensate for their tax exemption.—Private Wealth—The Queen has a substantial private income from her personal investment portfolio, though her exact personal wealth and income are not known.Estimates of the value of this portfolio vary from £275m to £340m (as of Jan 2018).The Queen privately owns both Sandringham House and Balmoral Castle.

The finance Act,2015 has amended the Section 2(15) of Income Tax Act which defines Charitable Purpose. Charitable Purpose has been amended a year ago to include yoga as charitable purpose.Patanjali Yogpeeth does impart Yoga to millions. Section 11 and 12 of the income tax act clearly states that income from charitable purposes are to be exempt accordingly. Hence, Patanjali Yogpeeth is exempted from paying taxes.It was only a recent decision by Income tax Appellate Tribunal. Though it is stated that Patanjali Yogpeeth is a gateway to endorse Patanjali Ayurveda Ltd, the latter is paying taxes. The former is not because it comes under 2(15) as stated above. The law is law.References:Tax-exempt status to Patanjali