Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Please and thank you! Exemption for Not-lul Tax 11.2 Hospitals said SE exemption for for hospitals is a historical relic, 1 board meeting. When income
Please and thank you!
Exemption for Not-lul Tax 11.2 Hospitals said SE exemption for for hospitals is a historical relic," 1 board meeting. "When income tax started in with was no icare, no Medicaid, and no insurance. People poor ney got e at home. The role of was to care for the cus are profitable businesses that serve Even lobbyists for the industry concede that that exemption tomers. and local taxes almost certainly costs more than care not-for-profit hospitals provide for free to the poor. uncom- income and property taxes, provide about as much ted care as not-for-profits. Plus, a lot of free care is mandatory. and state laws require all hospitals to provide emergency care ut regard for ability to pay. hospitals make plenty of money, ook, well-run "not-for-profit' with that, but and their managers get paid very well. I have no problem down they shouldn't get a tax break, too." With that, Tyler sat that we Corey then approached the microphone, saying, "I know and pays ide charity care. But Suburban Clinic, which is for-profit than property taxes, does too. And it provides only a little less The we do. A first guess at our property value would be $60 million. local taxes on that would be about $1.8 million. Even using the inflated ates that we float, which are based on list prices, there's no way that its community benefit approaches that amount of money. Have you seen the roads in this town? We could really use the tax revenue And I wouldn't mind a tax cut. My taxes help pay for our nonpayment of taxes. You know, we bought three for-profit physician practices, and see no difference in the way they are run. think this is just a scam to avoid paying taxes. After Corey sat down, Lee, the hospital's CEO, took the floor. "We provide a broad array of benefits to this community. We provide charity care, r prices are lower than our competitors, we operate a nursing hool, We operate asthma and heart failure programs that consis ently lose money, and we operate a number of community outreach programs. I think this community is well served by its recognition of ur mission. Yes, we are profitable, but we need to stay in charitable usiness, look forward to working with the board of assessors toStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started