51³Ô¹ÏÍø Tax Status
FEDERAL TAX STATUS
51³Ô¹ÏÍø is an instrumentality of the State 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. 51³Ô¹ÏÍø is required to file Form 990-T for unrelated business income.
51³Ô¹ÏÍø is able to issue tax-exempt debt to fund capital projects, including land, buildings and improvements.
CONTRIBUTIONS TO KENT STATE
A contribution to 51³Ô¹ÏÍø is generally deductible as a charitable contribution under IRC 170.
STATE TAX STATUS
51³Ô¹ÏÍø is exempt from Ohio's commercial activity tax.
51³Ô¹ÏÍø is exempt from Ohio real estate taxes.
51³Ô¹ÏÍø 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.