[hackerspaces] Question for US hackerspaces: local taxes on assets?

[dosman]

That's interesting. So you have both an LLC and a non-profit entity you use? (we debated keeping our LLC around for a while after we became a non-profit, but then opted to close it due to the overhead of maintaining it). While 90% of our stuff is member owned, we use our non-profit status to accept tax-deductible donations which means that stuff is owned by the non-profit. Also buying things tax-free for the space means that the non-profit owns it, not a member. While we've tried to keep assets owned by the space to a minimum, tax deductible donations has proven to be a good driver of tools and supplies for the space.

Thanks for you input,
-dosman


On May 16, 2014, at 3:47 PM, Mars Saxman wrote:

> On 2014-05-16 12:41, dosman wrote:
>> I was just curious how other spaces have
>> handled this? I know this will vary from state to state, I'm just
>> curious more than anything.
> 
> In Seattle, ALTSpace refuses to take possession of any assets whatsoever. The LLC rents a space, and ALTSpace members use that space to store and use their tools, which they share with each other in various ways. Some of the more expensive tools are owned by groups of members who contributed to the purchase cost.
> 
> Also, we're a non-profit, so they don't really care.
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