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Help inc a tax-exempt organization incurs lobbying expenses

Assignment Help Finance Basics
Reference no: EM13622271

Help, Inc., a tax-exempt organization, incurs lobbying expenses of $275,000 during the tax year. Help is eligible for and makes the 501 (h) lobbying expenditure election. During the year, Help spends $1,2000,000 carrying out its exempt mission.

a. Will the lobbying expense result in Help losing its exempt status?

b. Calculate  the amount of any tax that Help must pay associated with its lobbying expenses.

Reference no: EM13622271

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