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Marijuana Tax for Good? It’s Still Regressive
(Marijuana plants growing at a dispensary) The city of Aurora, Colorado has chosen to spend some of its tax revenue from marijuana sales on a worthy project. City officials announced plans to spend $1.5 million of the projected $4.5 million in marijuana tax revenue it…
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The Panama Papers & David Cameron: How Tax Havens Hurt Nonprofits
(British Prime Minister David Cameron) Tax policies – and the politicians that compose, debate, and codify them – affect nonprofits. From the IRA-to-charity rollover to deductions to incentivize philanthropy, tax polices in the United States have a direct impact on people’s giving behavior. When politicians…
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Nonprofit Helps Explain Panama Papers
(Skyline of Panama City, home to the headquarters of Mossack Fonseca) The single biggest leak in history has taken the news media by storm, as journalists from across the globe sort through 11.5 million documents pertaining to the inner-workings of the secretive Mossack Fonseca – a…
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Maine Nonprofits Face Hefty Property Tax
In a move to cut state taxes, Maine Gov. Paul LePage has provoked the ire of a number of his state’s towns and nonprofits. Ending state revenue sharing with municipalities is an essential component of the governor’s proposal. The revenue sharing system currently in place…
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Goodell’s Big Bonus Adds Scrutiny to the NFL’s Nonprofit Status
The NFL released its 2013 tax filing on February 13, revealing a gigantic sum awarded to Roger Goodell for his work as the league’s commissioner: a whopping $35 million. Goodell’s net earnings consisted of his annual $3.5 million salary, along with an additional $31.1 million…
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Proposed Legislation Would Apply Business Tax to New Hampshire Nonprofits
State Rep. David Hess has proposed legislation that would treat large New Hampshire nonprofits as private businesses, subjecting them to the state’s Business Enterprise Tax (BET). If successful, the bill would exact a heavy toll on the state’s nonprofit sector. New Hampshire Catholic Charities, for…
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Congress Gives Partial Extension to IRA-to-Charity Rollover
On December 16, the U.S. Senate voted to extend several charity tax breaks through only the end of 2014, though many in the nonprofit sector want a permanent implementation of the policies. Many fundraising professionals support the IRA rollover tax break in particular, which they…
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