What is this tax letter saying?
Please read this letter and tell me in simple words what it means since I'm only 12:
http://www.craigslistfoundation.org/uploads/docs/CLF_5013c_OK.PDF
Does it mean that craiglist users are removed from paying taxes or what?? Please help me for BEST ANSWER
2007-05-06 15:19:21 · 3 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ Other - Taxes
No, it means that the organization Craigslist is considered to be a non-profit charity. People who use the services do not get any exemption from taxes, only the organization itself.
2007-05-06 15:32:11 · answer #1 · answered by aj485 5 · 0⤊ 1⤋
In lay terms: since the company craiglist filed it's self a charitable organization, it doesn't have to pay taxes as long as it stays that way, if it should change how it operates like it stops being charitable, the not having to pay tax may not be true any more. It depends on what the company does in the future. But as far as this letter states as of the dates on the letter craiglist is tex exempt from the federal govenrment.
Hope that helps.
2007-05-06 22:37:46 · answer #2 · answered by thumpsterally 2 · 0⤊ 0⤋
What that letter is telling you is that The Craigslist Foundation is a registered charitable organization. If you should choose to make a donation to it, the donation would be tax deductible if you itemize your deductions.
It has NOTHING to do with anything you sell via an ad on craigslist.com. No more than The Bill and Malinda Gates Foundation has anything to do with any business you have with Microsoft Corp.
2007-05-07 03:04:30 · answer #3 · answered by Bostonian In MO 7 · 1⤊ 0⤋