Legal Question in Real Estate Law in New York
Can a not-for-profit 501-C3 organization invest in real estate (eg multi family homes). and if so are they overly taxed or is there a way to structure the org. to not be penalized with heavy taxes. (Including reusing the downpayments to new real estate).
Thanks!
1 Answer from Attorneys
Q. Can a not-for-profit 501-C3 organization invest in real estate (eg multi family homes).
A. It depends on the language in its charter. Normally, a not-for-profit corporation is not an investment entity. However, let's assume that not-for-profit is a type that purchases homes to allow affordable housing to the public, then the answer would be yes.
Q. are they overly taxed or is there a way to structure the org. to not be penalized with heavy taxes
A. You have to specify what tax you are referring to (income, capital gains, transfer) for me to properly answer the question.
Mike.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
