USA Today: “Emotions appeared to be sky high at the newly formed First Church of Cannabis after the Internal Revenue Service granted it nonprofit status. The designation means donors can deduct gifts to the church on their federal tax returns if they itemize and the church is eligible for a property-tax exemption in Indiana. The organization has raised $10,905 in a gofundme.com solicitation but has not found a home yet. “What a GLORIOUS DAY it is folks,” the founder and grand poohbah, Bill Levin, wrote May 26 in a Facebook post announcing the church’s IRS approval as 501 (c) (3) charitable organization.
IRS Grants Tax Exemption to First Church of Cannabis
By On the Net|2017-02-04T07:38:56-07:00June 6th, 2015|Legal Issues, Stories & Articles, Tax Issues|Comments Off on IRS Grants Tax Exemption to First Church of Cannabis
About the Author: On the Net
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Richard Keyt, an Arizona business law attorney who is the creator of this Arizona medical marijuana law website. Connect with Richard at 480-664-7478 or on Google+