“Although the LDS church is a tax-exempt organization, its for-profit entities generate “unrelated business income” that is subject to federal, state, and local income and other taxes.”
Thanks for the information. If that’s true, it lessens the outrage, but still leaves me with many questions about them.
Sort of puts to the lie your contention... [Vigilanteman]
Thanks for the information. If that’s true, it lessens the outrage... [OldNewYork]
These are operated strictly for charitable purposes and legally qualify for tax-exempt status....Again, all such commercial properties are taxed under the government entities where they are located. [MartialMonk, quoting Hinckley the "prophet"]
Some of Lds' ranches & ag properties are indeed tax-exempt as Martial Monk, citing the Lds "prophet" indicated. Others are not.
It doesn't change what I quoted earlier from another article: LDS, Inc. has more than $1 billion in for-profit property in Florida.
So, a non-profit entity runs for-profit businesses -- with for-profit property worth over $1 billion just in FL alone. Now replicate my all its other holdings in Utah, Hawaii, Idaho, Washington, etc.
Just as for-profit businesses are able to make donations with its grant-giving to liberal entities (abortion, homosexuality, etc.) -- my guess would be that if you look under the hood -- these "for-profit" entities wind up "donating" much to the Lds umbrella.
Hence a chunk of it washes back to "non-profit" Lds, Inc.