Members of the Fort Wayne Radio Club may recall that the club applied for reinstatement of the club’s federal tax-exempt status in November of 2012. The Internal Revenue Service has just notified us that the club tax-exempt status has been reinstated and is retroactive to the date the club had no longer been considered tax-exempt by the IRS.
The club is incorporated in the State of Indiana as a not-for-profit organization. Indiana honors the federal tax exempt status provided by the IRS. Thus, the club does not, will not, and never did owe income tax to either the federal or state governments. (This only applies to the income tax. The club still must pay sales tax for purchases when sales tax is due).
The tax-exempt status is derived from the club registering with the IRS as a social club under Section 501 (c) – 7 of the IRS code. The club must file regular reports with the IRS to maintain this tax exempt status.
This registration does not make dues payments or donations to the club deductible for federal or state income tax purposes. Donations to the club by businesses might be deductible for the business under certain circumstances.