Nonprofit Corporations in Indiana Not Automatically Exempt From Tax on Property

Faegre Baker Daniels tax partner Brent Auberry authored an article for the February 2014 edition of Bloomberg BNA's Tax Planning International Indirect Taxes newsletter. The piece explained that many nonprofit corporations operating in Indiana are surprised when they learn their property can be taxed, even if the company is set up as a 501(c)(3) corporation.

Auberry explained that nonprofits should expect that all property is subject to taxation, and that a Form 136 application for property tax exemption should be filed with the local county assessor. He also stressed that by statute, the filing deadline is May 15, 2014, to be considered for exemption in 2015.