Helpers, Inc., a qualifying 501(c)(3) organization, incurs lobbying expenditures of $250,000 for the taxable...
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Helpers, Inc., a qualifying 501(c)(3) organization, incurs lobbying expenditures of $250,000 for the taxable year and grass roots expenditures of $0. Exempt purpose expenditures for the taxable year are $1,200,000. Helpers elects to be eligible to make lobbying expenditures on a limited basis. Click here to access Exhibit 15.2. a. What is the ceiling amount of lobbying expenditures under the terms of the election? $ What is the amount of lobbying expenditures Helper is permitted to deduct? $ 40,000 b. What is its tax liability as a result of the election? $ 40,000
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