N&K CPAs Inc.

One of the largest locally owned certified public accounting firms in the State of Hawaii servicing local, national, and international clientele across the pacific.

Welcome to N&K CPAs,  Inc, one of the largest locally owned certified public  accounting firms in  the State of Hawaii. The firm was founded in 1973 with  the partnership  of Sadao Nishihama and Glenn T. Kishida. Today, the  firm has over 60  personnel, including six principals.

There are five major divisions in the firm: Assurance Services, Tax Services, Management Consulting, Information Technology, and Administrative Services. Together, personnel in these divisions provide clients with a full range of services from the traditional audit, tax, and bookkeeping services to business and technology consulting. There is also an international department which services our foreign clients.

Royalties and sponsorship payments: Are they tax exempt?

Many tax-exempt organizations allow for-profit entities to use the organization's name or logo to market goods and services.

Often, these agreements are structured as royalties because royalties are generally excluded from the definition of unrelatedbusiness taxable income (UBTI) by the IRS.

Unfortunately, the term "royalty" is not defined in the tax law. The regulations simply provide that whether a particular item of income is a royalty must be determined by the facts and  circumstances of each case...

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