EAlert: Important Policy Update for NFPs

On December 10, 2018, Governor Cuomo signed legislation (S.08831/A.11051) to protect non-profit employers from paying tax on commuter benefits such as transit or parking. This legislation decouples the New York State tax code from the Federal Unrelated Business Income Tax, which was passed in the Tax Cuts and Jobs Act. Prior to this signed legislation, nonprofits in NYS would have incurred an additional 9% tax, as those commuter benefits were considered taxable income.

David M. Rottkamp David M. Rottkamp, CPA, is an Audit Partner and Nonprofit Practice Leader, at Grassi. David has over 36 years of experience providing audit and advisory services to the not-for-profit and health care industries. David focuses on organizations serving individuals with special needs, religious organizations, educational institutions, membership associations, social service providers, healthcare providers, foundations, and the arts and culture world. David’s technical knowledge allows... Read full bio

Categories: Tax