Taxes” by GotCredit licensed under CC BY 2.0

 

Source: Sentinel and Enterprise

Massachusetts state Representative David Nangle has proposed a property tax on nonprofits with top earning employees.

The bill would require major nonprofits with large budgets to pay a property tax, to ultimately help cities and towns “meet their budgetary needs.”

“The largest nonprofits could and should be the perfect partner to accomplish this,” said Nangle.

If the combined salaries for a nonprofit’s top 5 staff members exceeds $2.5M, then the org will be required to pay a property tax to the state.

Hundreds of nonprofits will likely fall under this category, said Nangle, and he estimates that the taxes could amount to an extra $1 billion in funds for towns and cities to use for education and infrastructure.

Read full story at: Sentinel and Enterprise

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New Bill Requires Major Nonprofits to Pay Property Tax