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Legislation
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Resources
Check out these helpful resources about scrap metal and the recycling industry compiled here for your convenience.
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01/23/2025
RANC Tax Deductibility Statement For 2024
Dear RANC Members:
Below is an important notice of tax deductibility of RANC membership dues.
Under federal tax law, a trade association member may not deduct from its federal income taxes that portion of dues which represents certain kinds of non-deductible legislative "lobbying" expenses incurred by its trade association.
At the beginning of 2024, we, in good faith, estimated that 25% of your dues would be devoted to these kinds of non-deductible "lobbying" activities and thus not tax deductible. The actual amount for 2024 was approximately 35%.
You will wish to bring this notice to the attention of your company's tax preparer so that the proper deductions for 2024 may be taken into account. For 2025, we are, in good faith, estimating that 25% of your dues will be devoted to non-deductible “lobbying” expenses.
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