Do tax exemptions in America for certain organizations benefit society?
Do tax exemptions in America for certain organizations benefit society?
I'm asking about this section of U.S. Code specifically:
https://www.law.cornell.edu/uscode/text/26/subtitle-A/chapter-1/subchapter-F
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No, they do not. Tax exempt organizations shouldn't be private and also exempt from government oversight. I do think that legitimate small businesses should be tax exempt to simplify beaucracy, though.
What kind of small business do you think should not have to pay taxes and why is them not paying their share worth reducing the bureaucracy?
I think that businesses below 200k annual income are probably not worth taxing outside of income taxes on employees. It'd probably spur small business entrepreneurship which I think is pretty healthy for market competition.
Then a government would be incentivised to write policy to benefit bigger organisations and hurt small businesses. The government would make more tax revenue if they encouraged the bigger, taxable, orgs to crush the small business and absorb their previously non-taxable market share.
Completely related question.
What do you do for a living?
I'm gonna guess entrepreneur.
i mean, checks out to me.
Same
You do realize there are requirements for tax exempt organizations, right? Like listing funding, top earners, etc.?
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