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Nonprofit Sales Tax Exemption effective March 26 HB 354 makes a change to the law on admissions and tangible property for nonprofit fundraising, which had been taxable because of HB 487, which was passed in April of 2018. By Glenn Waldrop Frankfort, KY - - Governor Bevin's March 26th signing of HB 354 resolved questions and confusion about the application of sales tax to nonprofit sales. Due to an emergency clause in this legislation, sales of admissions and tangible property sales at fundraising events by all nonprofit groups and governmental organizations are now exempt from sales tax for transactions on or after March 26, 2019. These nonprofit, governmental, and civic organizations will no longer charge sales tax on these types of transactions as specified in Sections 28-29 of HB 354. All of these non-profit organizations should discontinue charging sales tax to their customers and benefactors immediately. Please note that this new exemption does not apply to sales by retail businesses such as bookstores and thrift stores owned or operated by nonprofit or governmental groups. The Department of Revenue is available to provide additional guidance as needed and will soon be posting updated information on its website at www.revenue.ky.gov and at www.taxanswers.ky.gov. This story was posted on 2019-03-30 08:44:17
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