Word: exempt
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Dates: during 1960-1969
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Your story about tax exemption and the Christian Brothers, one of the world's largest producers of commercial brandy, omitted several points. The organization has paid up some back corporate profits taxes, but it is now suing for a complete refund of approximately $490,000 on the ground that "Plaintiff is exempt as a church" and that "all property [is] subject to the control of the Pope." The Department of Justice has filed a counterclaim for an additional sum in back taxes...
...anyone is expert about the stage, it ought to be the American National Theatre and Academy, chartered by Congress in 1935 to "extend the living Theatre beyond its present limits." Tax-exempt and supported by culture-loving subscribers, ANTA produced many worthy revivals and experimental shows, and even an original hit, Mrs. McThing, but found itself continually broke. Last fall ANTA decided to make some money by investing not in Wall Street, the race track or a brewery, but in the riskiest business of all-Broadway. The results were disastrous...
Although the court noted that the Bureau of the Budget knew of Wenzell's dual role, it pointed out that this provided no exemption from the conflict-of-interest statute; Government officials cannot exempt underlings from the statute. "Wenzell's primary allegiance was to First Boston," said the court, and his loyalty to the Government only "fleeting...
...from champagne to Johannisberger Riesling, in a modern, $7,000,000 plant that has the first stainless-steel grape-crushing machine in the industry. They refuse to advertise on radio, TV or billboards, because they consider it inappropriate. The brothers, like almost all the religious businesses, have long been exempt from taxation. But a new clause inserted in the tax laws in 1950 left their status in doubt (though it did not affect most other church-sponsored business). To escape the ambiguity of their situation, the brothers shook up their business organization in 1957, have been paying full federal taxes...
...They sell for slightly more than similar jellies. "We have a fair markup," says Father John Holohan, St. Joseph's subprior (who has permission to talk because he must confer with "the outside world"). "We have never wanted to take advantage of our free labor and our tax-exempt position." The monks are building a new and automated kitchen, have set themselves a goal of 3,000,000 jars of jelly a year...