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FEDERAL TAX STATUS

¾«¶«Ó°Òµ University 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.  ¾«¶«Ó°Òµ is required to file Form 990-T for unrelated business income.

¾«¶«Ó°Òµ is able to issue tax-exempt debt to fund capital projects, including land, buildings and improvements.

CONTRIBUTIONS TO KENT STATE

A contribution to ¾«¶«Ó°Òµ University is generally deductible as a charitable contribution under IRC 170.

STATE TAX STATUS

¾«¶«Ó°Òµ University is exempt from Ohio's commercial activity tax.

¾«¶«Ó°Òµ University is exempt from Ohio real estate taxes.

¾«¶«Ó°Òµ University 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.