Word: exempted
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After reviews of the show appeared in the local papers, hundreds of art lovers turned up at the studio. One irate city councilman threatened cancellation of the school's tax-exempt status, accusing the participants of "violating every standard of the community under the guise of art." The Providence police apparently shared his indignation. Under a new antipornography law that had been signed the very day the show opened, the cops raided the place and seized some 43 drawings and paintings. City Solicitor Ronald Glantz hoped, however, that he would not have to prosecute. Said he: "The whole thing...
...industrial nation that taxes its citizens who work abroad. They also have to pay taxes to the host countries, and many of these have steeper rates than does the U.S. To alleviate this double burden, the U.S. tax code has long provided two moderate loopholes. First, overseas taxpayers could exempt up to $25,000 annually from U.S. taxes. Second, they could claim a credit for any foreign income taxes paid. The amendment would chop the exemption to no more than $15,000 a year and limit the credits for foreign taxes. It would also tax the excess at the rate...
...Boston, that could be the case. More than half of the city's real estate belongs to tax-exempt institutions, such as churches and universities, and homeowners pay the nation's highest rate: a stunning 8½% of their property's market value. Typical of homes in some deteriorating neighborhoods is Diane Roberts' three-story wooden frame house in Dorchester. Its market value is only $17,500, yet she is paying $1,472 a year in taxes. These rates have moved some 12,000 Massachusetts homeowners to join a mostly blue-collar group called "Fair Share...
Boudinot T. Atterbury '79, a member of the subcommittee that drew up the proposal, said last week that no other Harvard student organization's fees appear on the term bill. He added that despite the University's decision in 1972 to exempt RUS from that rule, RUS "is a student organization not so different from any other student organizations which aren't funded on the term bill...
...newly discovered natural gas, with the price ceiling rising by about 10% annually and being eliminated altogether by Jan. 1, 1985; 2) the extension in the meantime of federal price controls to cover gas that does not leave the state where it is produced, which until now has been exempt from federal regulation; and 3) a formula whereby industrial users of gas will have to pick up most of the increased costs in the beginning, thereby removing a portion of the burden from consumers...