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No, for one thing churches exist off of donations even if we wanted to tax them (which we shouldn’t, they aren’t businesses)
by edgyquant 3y ago
No, for one thing churches exist off of donations even if we wanted to tax them (which we shouldn’t, they aren’t businesses)
- jjtheblunt 3y agoThey’re definitely businesses sometimes: the Mormon church holds billions in investment properties that they profit off. An example of countless articles: https://www.wsj.com/articles/mormon-church-temple-spending-spree-utah-e167977f https://www.wsj.com/articles/mormon-church-temple-spending-s...
- HideousKojima 3y ago>They’re definitely businesses sometimes: the Mormon church holds billions in investment properties that they profit off. And they pay taxes on any profits generated by their for profit subsidiaries: https://www.sltrib.com/religion/2022/04/17/lds-wealth-spurs-question/ https://www.sltrib.com/religion/2022/04/17/lds-wealth-spurs-... "Churches with unrelated business income pay taxes on that income, Brunson noted, as the LDS Church reportedly does on its for-profit businesses."
- AnthonyMouse 3y agoWhich seems weird, if I'm not misunderstanding this. So if you make profit and donate it to a charity, you can deduct it and they don't pay tax on it either. But if the charity makes a profit, effectively donating the money to itself, it does? What?
- jjtheblunt 3y agoAn LDS whistleblower disagrees: the LDS church created an elaborate complex of shell companies to disguise for profit investments for roughly two documented decades. The SEC penalized them a tiny fraction of what the whistleblower documented. https://www.nbcnews.com/business/business-news/mormon-church-multibillion-investment-fund-sec-settlement-rcna71603 https://www.nbcnews.com/business/business-news/mormon-church...