LLCs rarely attain tax-exempt status due to the complexity of complying with the relevant regulations.
Yet it still can be achieved when you throw enough money and attorneys at the puzzle as exemplified here.
3 Matching Annotations
- May 2023
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www.influencewatch.org www.influencewatch.org
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“Least Transparent Mega-Giver” of 2019.
Cause for concern. The laws surrounding LLC, 501c3s, and 501c4s exist for a reason. The lack of transparency itself is an argument for closing loopholes in the tax code.
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While the Collective does not take profits, Powell Jobs has drawn criticism for using her philanthropic organization as a de facto venture capital fund.
While it doesn't technically violate SEC rules, it does raise the question if these rules need to be revised for transparency.
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