If your museum is a chartered non-profit organization, then admissions fees
are tax-exempt income because it is directly generated by the activities of
your institutions educational mission. You should ask your accounting
department to read the Financial Accounting Standards Board [FASB] issued
Statement of Financial Accounting Standards (SFAS).



At 06:00 AM 2/23/96 MDT, you wrote:
>We have recently been advised by our university accounting department
>that the museum must pay tax on the admission fees which are charged
>for an exhibit which the museum has leased.  The director has asked the
universi
>ty counsel
>for clarification.
>
>It has been my assumption that admission fees for exhibits are not
>taxable because exhibits are a primary way for the museum to achieve
>its mission.  Does anyone have experience with a similar situation
>where your museum did not have to pay tax on the admission fees?
>
>Thanks,
>Jane MacKnight
>Idaho Museum of Natural History
>Idaho State University
>Pocatello, ID 83209
>email  [log in to unmask]
>Telephone 208 236 2603
>
>
Paul H. Pincus
Bilbao Project Associate
Solomon R. Guggenheim Museum
Guggenheim Museum Bilbao
1071 Fifth Avenue
New York, NY 10128-0173
P (212) 423-3549
F (212) 534-8938 or (212) 876-2368

e-mail:
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