‘Anxiety and frustration.’ KY charities struggle as new tax hits fund-raising events.
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Nonprofits around Kentucky are still trying to figure out exactly how the law applies to them, said Danielle Clore, executive director of the Kentucky Nonprofit Network. The new tax law was approved by the legislature in the spring.
“Nonprofits have a great deal of anxiety and frustration from all levels,” Clore said. “We’re hearing from organizations that they’re confused how it will impact them.”
For example, the Department of Revenue has said the first $1,000 of income at fund raisers can be exempted, but it’s confusing as to exactly what that entails.
“A lot of organizations just don’t want to fool with it and are asking if they should simply not hold events,” Clore said.
Source Name:
Lexington Herald Leader
