Senate Tax Bill Adds UBIT, Saves Johnson Amendment
Tax would be imposed on royalties, and on organizations for excess benefits
The Senate Tax Bill being considered simultaneously with the House Tax Bill in the Republicans’ effort to get something to President Trump by the end of the year, would not modify the Johnson Amendment to allow churches to engage in political activity, but would impose new unrelated business income taxes, deny across-the-board deductions for expenses in generating the unrelated business income, and would impose a tax on organizations involved in excess benefit transactions.
The full text of this article is available to paid subscribers only. Login or subscribe to read more