Word: tax-exempt
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...Reality has got to set in to the universities," Walsh said. "Everyone seems to be waltzing around these financial concerns. Maybe it takes a suit by the city against the universities in order to find out exactly what is tax-exempt...
...name of the tax-exempt beast is ETS, short for Educational Testing Service. ETS is responsible, if that is the word, for administering large gobs of the evil alphabet soup that you must take to get on with your educational career: PSAT, SAT, AP, GMAT, NTE, GRE. Most universities, or at least the ones you'd want to attend, make these tests a prerequisite to applying: no ETS, no education...
...snack foods." But the exemption for food products remains, forcing beleaguered bureaucrats into an exercise in semantics: What is a "food," and what is a "snack"? The extra $200 million may help balance the books, but it has nearly unbalanced grocers as they try to price chocolate chips (a tax-exempt baking product) vs. chocolate kisses (candy, which is taxed), or a freshly bagged slice of pie (tax free) as opposed to a similarly sized prepackaged pie (taxable). While conservative talk-show hosts ridicule the new laws as regulation run amuck, liberal critics blister them as unfair: a worker...
...pact will bring the city more than $11 million over the 10-year period from Harvard as compensation for the University's vast tax-exempt landholdings, which amount to almost 5 percent of the city's potential taxable property. Harvard's annual voluntary contribution rose by $100,000, while compensation for tax-exempt affiliated housing property rose by nearly the same amount...
...very positive step," he says. "The city now has some insurance that property won't be converted to tax-exempt property, but other fiscal issues weren't addressed in the agreement. Hopefully the framework which was set up can deal with the other problems...