Re:Columbia and NYU Would Lose $327M in Tax Breaks Under Pro...
by bell-cot on Sunday December 10, 2023 @04:07PM
(#38595065)
Sure sounds to me like the other institutions are only "excluded" because they aren't currently making enough money to qualify for the tax. Kinda like I was "excluded" from itemizing deductions on my 1040 last year, due to insufficient mortgage and medical expenses. But my cousin Sam was not excluded. Same tax law applies to both of us.
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Re:Columbia and NYU Would Lose $327M in Tax Breaks Under Pro...
by mportela on Sunday December 10, 2023 @04:56PM
(#38595480)
Fair enough. We would need to wait and see the actual piece of legislation and I assume they wouldn't single out these institutions otherwise it would be too easy to contest at the state supreme court.
Here's the text to the amendment and, for now, it's just about allowing the state government to start taxing private institutions of higher education (not museums nor other non-profits though): https://www.nyassembly.gov/leg/?default_fld=&leg_video=&bn=S...