NYS Repeals Double Tax Filing Requirement

Charitable organizations in New York State have one less administrative burden to carry, now that Governor Hochul has signed a bill repealing the requirement to file Form 990 and accompanying documentation with the Department of State.

The state’s 2020 budget had imposed this requirement on all 501(c)(3) organizations, which were already required to file their federal tax filings with the Charities Bureau of the NY Attorney General’s Office. Calling this duplicate filing “redundant and burdensome,” the bill eliminates the Department of State filing requirement, which was scheduled to begin this year.

In addition, the legislation protects the privacy of donors by prohibiting the publication of financial disclosure records that include the names, addresses or telephone numbers of donors and the amounts they donated.

Grassi’s Nonprofit professionals applaud this new development and remain available to help you understand your nonprofit’s annual tax filing obligations.

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