ÐÓ°ÉÊÓƵ Tax Status
FEDERAL TAX STATUS
ÐÓ°ÉÊÓƵ is an instrumentality of the ÐÓ°ÉÊÓƵ of Ohio and qualifies for tax-exempt status under Section 115 of the Internal Revenue Code (IRC). Section 115 also provides an exemption from filing IRS Form 990. ÐÓ°ÉÊÓƵ is required to file Form 990-T for unrelated business income.
ÐÓ°ÉÊÓƵ is able to issue tax-exempt debt to fund capital projects, including land, buildings and improvements.
CONTRIBUTIONS TO KENT STATE
A contribution to ÐÓ°ÉÊÓƵ is generally deductible as a charitable contribution under IRC 170.
STATE TAX STATUS
ÐÓ°ÉÊÓƵ is exempt from Ohio's commercial activity tax.
ÐÓ°ÉÊÓƵ is exempt from Ohio real estate taxes.
ÐÓ°ÉÊÓƵ is exempt from sales tax on purchases but must collect and remit Ohio sales tax on sales made on a monthly basis. More information on the sales tax can be found on the Sales Tax Page.