Word: exemption
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...domain is being drawn up by Senate budget boss Pete Domenici, a cautious deficit hawk who wants to postpone tax cuts until surpluses grow much larger. New Jersey Democrat Robert Torricelli is proposing yet another idea: raise the amount of income subject to the 15% minimum rate and exempt $500 of interest and dividend income and $5,000 in capital-gains taxes...
...council wants to investigate whether Harvard's affiliate housing property is tax-exempt. Triantifillou pointed to a recent article in the Harvard Gazette which reported a Harvard Planning and Real Estate's proposal to increase the rent on affiliate housing by 4 percent...
...Harvard is going to charge market rate [rent] then they should be paying market rate [taxes]," Triantifillou said. "If these properties are being charged market rate there's no reason they're tax exempt...
...This report request is similar to a report submitted last year by Healy regarding Harvard's non-profit, educational institution tax-exempt status as it related to profit-making activities on Harvard-owned properties...
Hardly anyone noticed when former House Speaker Newt Gingrich received a vindication of sorts this week. The Internal Revenue Service concluded that the tax-exempt Progress and Freedom Foundation had not broken any tax laws when it helped sponsor a Gingrich college course. The course, as you've probably forgotten, was at the center of the ethics controversy that resulted in a $300,000 fine against Gingrich...