MTNA saves affiliates more than $50,000.Did you know that in addition to providing member benefits to individuals, MTNA MTNA Music Teachers National Association MTNA Middle Tennessee Nursery Association (McMinnville, Tennessee) also offers benefits to state and local MTAs? State and local affiliates may apply for 501(c)(3) status through MTNA's group exemption process. As of mid-February, 103 affiliates had taken advantage of this opportunity, saving themselves a combined total of more than $50,000 in Internal Revenue Service application fees. Among the advantages of 501(c)(3) status, affiliates can accept charitable contributions charitable contribution n. in taxation, a contribution to an organization which is officially created for charitable, religious, educational, scientific, artistic, literary, or other good works. that will be tax deductible That which may be taken away or subtracted. In taxation, an item that may be subtracted from gross income or adjusted gross income in determining taxable income (e.g., interest expenses, charitable contributions, certain taxes). to the contributor and claim exemption from state sales tax sales tax, levy on the sale of goods or services, generally calculated as a percentage of the selling price, and sometimes called a purchase tax. It is usually collected in the form of an extra charge by the retailer, who remits the tax to the government. . To take advantage of this benefit, affiliates must review their constitutions for compliance with Code Section 501(c)(3) requirements and submit a letter authorizing the national organization to include them on MTNA's "group exemption roster." The national headquarters provides guidelines guidelines, n.pl a set of standards, criteria, or specifications to be used or followed in the performance of certain tasks. for completing the process. For more information about becoming a 501(c)(3) organization, contact MTNA national headquarters at (888) 512-5278 or mtnanet@mtna.org. |
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