Nonprofit fund-raising activities - article valued at less than $10,000

From the 2024 DOR Tax Exemption Study

82.12.225 - Nonprofit fund-raising activities - article valued at less than current value limit Description Consumers supporting the charitable activities of nonprofit organizations or libraries are provided a limited use tax exemption. The exemption applies to the use of any article of personal property purchased or won as a prize in a game of chance, from a nonprofit organization or library as part of a qualifying tax-exempt fundraising activity. The item bought or received as a prize in a contest of chance must have a value less than $13,920. The department must adjust the value limit for the exemption by multiplying the current value limit by the greater of one or one plus the percentage change in the consumer price index for the most recent 12-month period available as of December 1st of the current year. Purpose To support nonprofit organizations. Taxpayer ($ in millions): savings FY 2024 FY 2025 FY 2026 FY 2027 State Taxes $2.555 $2.647 $2.769 $2.897 Local Taxes $1.149 $1.190 $1.245 $1.303 Repeal of Repealing this exemption would increase revenues. exemption Potential ($ in millions): revenue gains FY 2024 FY 2025 FY 2026 FY 2027 from full repeal State Taxes $0.000 $2.426 $2