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NYC Salary Transparency Law (City Council Local Law 32), which took effect on November 1, 2022, requires businesses (including nonprofits) in NYC to include a “good faith” salary range in all job postings. The purpose of the law is to promote pay equity.  Carter Ledyard’s Employment Group summarizes the key provisions of the law here…

Effective May 7, 2022, private-sector employers in New York State that monitor or otherwise intercept their employees’ electronic and internet usage and communications must provide notice about that monitoring to their employees. These provisions apply to non-profit and tax exempt organizations. Read the full text and details here.

On October 21, 2021, the Internal Revenue Service (the “IRS”) published Notice 2021-56. The Notice sets forth current standards that a limited liability company (“LLC”) must satisfy to receive a determination letter recognizing it as tax-exempt pursuant to sections 501(a) and 501(c)(3) of the Internal Revenue Code (the “Code”).  While the IRS has provided…

On March 13, 2020, an emergency declaration was issued authorizing the Secretary of the Treasury to provide relief from certain tax deadlines for taxpayers impacted by the ongoing COVID-19 epidemic. In response, the Internal Revenue Service (IRS) postponed the deadlines for certain time-sensitive actions, including the deadline for exempt organizations to file an annual information…

In our previous blog post, we discussed relief available for nonprofits under the Coronavirus Aid, Relief, and Economic Security (CARES) Act (the “Act”).  As described, the Act authorizes up to $349 billion for general business loans available to certain exempt organizations under the Paycheck Protection Program (“PPP”), and provides for Economic Injury Disaster Loan…

The Internal Revenue Service (“IRS”) defines virtual currency as “a digital representation of value that functions as a medium of exchange, a unit of account, and/or a store of value.” Virtual currency is not backed by a government-issued legal tender. Convertible virtual currency such as Bitcoin—by far the most popular—may be used to pay for…

Welcome to The Tax-Exempt Organizations Bulletin!  This Bulletin delivers news and commentary on the unique legal issues affecting the nonprofit sector.

Our Tax-Exempt Organizations Practice Group is comprised of attorneys who work exclusively with nonprofits, as well as attorneys from the firm’s other practice groups, such as trusts & estates, real estate, corporate, IP, litigation,…