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The size of such payments can be controversial, especially where the organization appears to have federal income from taxable activities. For example, the tax-exempt Appalachian Mountain Club operates a modern hotel for its members in Carroll, New Hampshire, paying a negotiated PILOT amount to the town. A competing commercial hotel would also ...
The purpose of Build America Bonds, commonly referred to as BABs, is to reduce the cost of borrowing for state and local government issuers and governmental agencies.Some traditionally tax-exempt issuers, such as private party issuers and 501(c)(3) organizations, were not eligible to use the Build America Bond program.
Since the 1970s, the following factors have led local governments (cities, townships, etc.) to consider tax increment financing: lobbying by developers, a reduction in federal funding for redevelopment-related activities (including spending increases), restrictions on municipal bonds (which are tax-exempt bonds), the transfer of urban policy to ...
For the first time since 2007, Ohio is increasing the amount of home value homeowners can exempt from their property taxes. Ohio expands its property tax exemptions, here's what you need to know ...
Voters are deciding Tuesday whether to approve 10 different school levy asks across central Ohio in ... bond issue and tax levy totaling 4.3 mills. ... Assistance Program. If approved, the bond ...
Bexley and Marysville schools seek levies to fund operations while 8 central Ohio school districts are seeking funds for ... For premium support please call: 800-290-4726 more ways to reach us.
Interest income from most municipal bonds is excludable from gross income for federal income tax purposes, and may be exempt from state income tax as well, depending on the applicable state laws. [14] Internal Revenue Code section 103(a) is the statutory provision that excludes interest on municipal bonds from federal income tax. [15]
On one end of the spectrum, a rigorous 'but for' test is employed, akin to those used in tax-exempt bond financing under federal tax law and in numerous state-taxable bond issuance programs. This test necessitates a demonstration that the business activity would not have occurred 'but for' the incentive. [ 19 ]