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#2220201 - 08/22/19 12:20 AM Beneficial Ownership on Library,Fire Department...
CindyS Offline
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Joined: Sep 2005
Posts: 132
On entities such as the public Library, Fire Department, Drainage District, etc. that receive funds through taxation, but aren't a typical Government Agency, do you mark them as a Government Agency and do nothing for Beneficial Ownership, or you consider them like a Non-Profit and do the Control Prong of the Beneficial Ownership forms?

Thanks for any help!!

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#2220204 - 08/22/19 11:39 AM Re: Beneficial Ownership on Library,Fire Department... CindyS
Adam Witmer Offline
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Joined: Sep 2010
Posts: 2,614
Great question, CindyS. I've seen some of these entities structured different ways, so it is all going to depend on how the entity is structured. If it is registered as a non-profit, the control prong will apply. If it is an (un-registered) unincorporated association, BO won't apply. If it is an extension of the government, then the government exemption would apply.

The bottom line is that you are going to need to know exactly how the entity is structured and then go from there.
Adam Witmer, CRCM

All statements are my opinion, not those of my employer, and should not be taken as legal advice.

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