Word: taxexempt
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...Internal Revenue Service took a second look at nudist societies, whose dues have hitherto been taxexempt. It decided that they belong in the category of "social, athletic or sporting" clubs. As such, 20% of their dues must be paid in taxes...
...however, the Russians took a more conciliatory tone, and asked the State Department to intercede with local authorities about the $14,000 in annual taxes they were paying on Killenworth. Since Soviet U.N. Chieftain Jacob Malik was to use the mansion henceforth, couldn't the place be declared taxexempt...
...lure the middle-class money into "buying bonds (and thus prove his case), Tucker designed an issue with advantages unheard of in the U.S. The bonds were made wholly taxexempt, given an absolute government guarantee. They could be used at face value in paying taxes, and were acceptable (at 90% of face value) as collateral for Central Reserve Bank loans...
...which holds 95,321 shares (55.2% of the voting stock) for her grandchildren, who will eventually divide it. On these holdings, the estate got $428,944. In addition, dividends of $1,287,445 went to the estate on the 286,099 shares of non-voting stock left to the taxexempt, non-profit Ford Foundation...
...sell & leaseback" deal was doubly advantageous. Yale would get a fairly sure tax-exempt income of 5.3% on its investment. Macy's would get its $4,500,000 out of dead brick & mortar into lively working capital, still have the use of the building. Since the rent is taxexempt, it is probably lower than Macy's would have to pay to a taxpaying owner...