Word: tax-exempt
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...bill, which is now in the House Committee on Taxatation, is intended to alleviate financial problems of communities which must furnish municipal services to the tax-exempt educational institutions. According to Burns, the expansion of private colleges is continually diminishing local tax bases...
...world is such that the rich?those with very large assets?do not actually pay the confiscatory top rates. The rich can arrange matters so that the money rolls in to them in forms that are partly or entirely sheltered from income tax, such as capital gains, royalties from oil properties, interest from tax-exempt municipal bonds. In 1961 a total of 306 U.S. taxpayers filed returns showing an adjusted gross income of $1,000,000 or more. Their adjusted gross income added up to $611,273,000, their total income tax to $280,525,000, or an average...
...reserved the right to accept or reject any of the bids for the now tax-exempt land, and it seems very unlikely that Roche's client will be awarded the sale. The City Council will support whichever will bring the greatest amount of revenue to Cambridge, but MTA officials apear more interested in the feasability of the various proposals and the immediacy of payment...
...company with the sole function of educating technicians for the entire aircraft industry. By 1947, the two-year school was rolling in subsidized G.I. Bill students. McKinley, sensing an opportunity to make the school into a junior Caltech, bought it from Northrop and turned it by 1960 into a tax-exempt institution valued...
...conscience to the sin of pleasure; Boston's Old Guard ladies still meet to gossip in "Sewing Circles," though the original pretense, sewing for the poor, has long since been abandoned. There are more modern advantages in having an eleemosynary excuse for an enchanted evening: 1) costs are tax-exempt contributions, and 2) the socially ambitious will write big checks and work furiously for the chance to rub elbows with those who have arrived. Credit-by-association is used as a negotiable commodity by many of the Old Guard to do good in the world. "The very social...