Word: tax-exempt
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Hughes was fortunate too. Under both the Johnson and Nixon Administrations, he received kid-glove treatment. Not until 1971 did the IRS subject the Hughes holdings to an overall audit; the results of that audit have been kept secret. The Hughes Medical Institute has continued to enjoy tax-exempt status though its small volume of contributions does not meet IRS regulations for tax exemption. When Hughes in 1970 was faced with an antitrust complaint for attempting to buy another hotel in Las Vegas, former Attorney General John Mitchell personally intervened on his behalf...
Sullivan said in the first year alone the new rate would bring in more than $500,000 in revenue, most of it coming from "those tax-exempt institutions which use the city's resources" but which are not obligated to pay tax on the property they...
Harvard Student Agencies last week appealed an Internal Revenue Service recommendation that calls for an end to the agency's tax-exempt status retroactive...
...received its tax-exempt status in 1959, because it qualified as "a charitable and educational" organization under the 1954 tax code...
...Society programs that the city could not control. In addition to suffering the ailments of all big, old U.S. cities, New York has many special problems: it is a magnet for poor immigrants and rural people; it has an unusually large number of unemployed or otherwise dependent citizens and tax-exempt institutions; it also has huge numbers of commuters-many from neighboring states-who do not carry a full tax load...