Contributions or gifts to NAILTA-PAC are not deductible as charitable donations for federal income tax purposes.
NAILTA-PAC may receive up to $5,000 per year from any one contributor. A husband and a wife each have separate $5,000 limits, even if only one spouse has an income. A couple may make a joint contribution using a single form of payment. Since a joint contribution represents a personal check of each donor, each donor must sign either the check or an accompanying statement. The joint contribution is applied equally to each donor unless an accompanying statement indicates otherwise.
Business Checks that are permitted by Law
To contribute to a PAC
I. LLC Contributions:
The Federal Elections Campaign Guide 2001 – Contributions from Limited Liability Companies says that for the purposes of contributions an LLC may contribute to the PAC. However, the law defines the circumstances under which an LLC is eligible to contribute “hard dollars.” It depends whether a LLC chooses to be treated either as a partnership or a corporation.
- LLC is considered a corporation if it has chosen to file, under the Internal Revenue Service (IRS) as a corporation or it has publicly traded shares.
- LLC is considered a partnership if it has chosen to file under the Internal Revenue Service (IRS) as a partnership or it has made no choice under the IRS rule as to whether it is a corporation or partnership.
- If an LLC that is considered a corporation it is prohibited from making contributions to political committees.
- If an LLC is considered a partnership it is permitted to make contributions to political committees. It is subject to the contribution limits for partnerships
- (Contributions from a partnership may not exceed $5,000 per calendar year to a given committee.)
- If an LLC is an S Corporation that is unincorporated it may contributed. An S corporation that is incorporated may not contribute.
- An LLC (partnership) must at the time of the contribution notify the recipient committee it is an LLC in doing so it must state that it is eligible to make the contribution and how the contribution should be attributed among its members (if more than one).
- A single member LLC, that does not elect corporate status, may make a single contribution and applied to a single member.
III. Sole Proprietorship
IV. Limited Partnership
Contributions to NAILTA-PAC are not tax deductible for Federal Income Tax purpose. NAILTA-PAC may accept only personal checks and credit cards. Federal Law requires that we obtain and report the name, address, occupation and employer for each individual whose contributions aggregate in excess of $200 per calendar year. We do not accept political contributions from foreign nationals.