Word: exempt
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...cost of Rocky's program: $1.5 billion. On a do-it-yourseli basis, a homeowner with a basement might build his shelter for about $50 a person; he would pay at least twice as much if a contractor did the job. To sweeten the plan, shelters would be exempt from local real estate taxes and construction costs could be deducted from state income tax. "Put the overall program into effect as soon as possible," urged the study committee. "We may have less time than we think." "The legislature wouldn't pass a mandatory program like that until...
Originally, the co-ops were small, neighborhood associations set up to improve farmers' competitive position by pooling their marketing and purchasing power. When Congress in 1909 imposed the first peacetime corporate income tax of 1%, co-ops were held to be exempt as "agricultural or horticultural organizations." There were no objections, since at that time their tax advantage over other businesses was so small. Subsequently, Congress spelled it out: a co-op was totally exempt if it did half or more of its business with members and met certain other tests such as limiting dividends on capital stock...
...bearing, and payable only at the discretion of the coop, they have no market value. To head off real tax reform, co-ops now are willing for Congress to pass a new law, forcing co-op members to pay personal income tax on allocations but keeping the organizations themselves exempt. To overcome the court objections to taxing scrip, the Treasury recommends that all exempt allocations be made in cash or in certificates that would pay a minimum of 4% interest, have a maximum maturity of three years. This would, in effect, make the scrip short-term notes, give...
...counter the argument, Reynolds noted that the University would construct taxable facilities on the yards, in addition to the tax-exempt Houses...
...House Bill No. 2173, emphasized at the hearing that "common ground" between the University and the MTA could be reached without damaging the city of Cambridge. John R. Sennott, father of the second sponsor, spoke about the "great drain on taxpayers" caused by the large amount of tax-exempt property in Cambridge...