Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2014
 

Sales and Use Tax Annotations


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385.0000 NEWSPAPERS AND PERIODICALS—Regulation 1590

Annotation 385.1145

(d) BUSINESS REPORTS, HOUSE ORGANS, NEWSLETTERS

385.1145 Nonprofit Organization Issuing Annual Reports. A nonprofit foundation, qualifying for tax exempt status under section 501(c)(3) of the Internal Revenue Code, publishes annual reports. The publication is distributed periodically at regular intervals by the Foundation at no charge. The report contains articles describing the Foundation's accomplishments during the year and the Foundation's financial statements. The publication contains no commercial advertising.

Under these facts, the sale of the annual report to the nonprofit organization for distribution qualifies for the exemption from tax provided in section 6362.8, which was operative from November 1, 1991 through October 31, 1992.

(Note: Statute amended operative November 1, 1992, to require issuance every three months to qualify for exemption.) 6/25/92.