The National Rifle Association (NRA) – the gun rights advocacy group – announced Friday that it has filed for bankruptcy and will reincorporate in Texas, The Hill reported.
The NRA, which is based in New York, said it is exiting “a corrupt political and regulatory environment in New York” and will reorganize as a Texas nonprofit. Its plans, it said, “involve taking advantage of bankruptcy court protections.
The NRA said in a statement that “this move will achieve long-term, sustainable growth and ensure the NRA’s continued success as the nation’s leading advocate for constitutional liberty – free from New York’s toxic political environment.
In a statement, the NRA claimed it is in “the strongest financial position in years” and said it will not immediately change its operations or workforce. There are more than 400,000 Rifle Association members in Texas, and the organization will hold its annual meeting in Houston in 2021.
“This strategic plan represents a pathway to opportunity, growth and progress,” National Rifle Association CEO, Wayne LaPierre, said in a statement.” Clearly, an important part of this plan is to ‘dump New York.’ The NRA is pursuing re-registration in a state that values the NRA’s contributions, celebrates our law-abiding members, and will join us as partners in upholding constitutional freedoms. This is a transformative moment in the NRA’s history.”
The lawsuit comes after New York Attorney General Letitia James filed a lawsuit in August alleging that the NRA violated state laws governing nonprofits, resulting in losses of more than $64 million over three years.
Following the announcement of the civil suit, Democrats on the House Ways and Means Committee called on the IRS to review the tax-exempt status of the NRA and the NRA Foundation.
Recent Comments