State and Local Tax Compliance
Georgia Tax Credit Encourages Donations for Private Schools
The Georgia Private School Tax Credit allows Georgia taxpayers to redirect Georgia income tax dollars to an eligible Georgia private school as a donation. Donors will receive a dollar-for-dollar Georgia tax credit for the amount they donate to the qualifying school’s student scholarship organization. Maximum donation amount for Individuals: $1,000 Maximum donation amount for joint filers: $2,500 Maximum donation amount for married filing separate taxpayers: $1,250 Maximum donation amount for C corporations: 75% of Georgia Tax Liability Who is eligible? Any Georgia taxpayer What happens if my donation exceeds my Georgia tax liability? The tax credit is a “non-refundable” credit. What. Read More.
Georgia Private School Donations May Qualify for Tax Credit
The Georgia Private School Tax Credit allows Georgia taxpayers to redirect Georgia income tax dollars to an eligible Georgia private school as a donation. Donors will receive a dollar-for-dollar Georgia tax credit for the amount they donate to the qualifying school’s student scholarship organization. Maximum donation amount for Individuals: $1,000 Maximum donation amount for joint filers: $2,500 Maximum donation amount for married filing separate taxpayers: $1,250 Maximum donation amount for C corporations: 75% of Georgia Tax Liability Who is eligible? Any Georgia taxpayer What happens if my donation exceeds my Georgia tax liability? The tax credit is a “non-refundable” credit. What. Read More.
New Requirements Lead Colleges to Blacklist Students from Certain States
A new rule aimed at reining in the meteoric growth of for-profit colleges would see colleges obtain permission from every state in which they enroll students. Institutions offering distance learning now confront an irregular patchwork of state requirements. As Inside Higher Ed reports, requirements and fees range widely from state to state, sometimes requiring several thousand dollars per course offered. This has caused some institutions to rule out students from states like Massachusetts, Minnesota and Arkansas. The survey asked colleges about what, if anything, they were doing to get into compliance with state authorization rules. Almost all of the 215 colleges offering distance. Read More.
Possible Repeal of Program Integrity Rules May Have Little Tangible Effect
While the Education Department’s “program integrity” rules are somewhat in question, even overturning the rules at the federal level will do little for the day-to-day activities of most colleges and universities. As Inside Higher Ed reports, the requirements have already drawn state-level attention to higher education mandates, and the revenues those regulations can bring. In the past, many out-of-state institutions were ignorant of the requirements or simply paid them little mind, and the regulators ignored the institutions in turn, [said Russ Poulin, deputy director of research and analysis of WCET, a cooperative that focuses on technology in higher education]. The federal rule has. Read More.
For-Profit University Regulations Also Challenge Expanding Nonprofit Schools
The rapid expansion of for-profit universities has caused a headache for federal regulators as higher numbers of graduates from such institutions default on their federal student loans. To stem the negative consequence of these defaults, new federal regulations are on the books regarding several for-profit university practices, a chief component of which are multistate offerings through online courses. As Independent Mail reports, these same regulations may cost all colleges and universities millions as they expand into online course offerings. To introduce more oversight into the for-profit industry’s education practices, the federal government is now requiring that all higher-education institutions whose students receive federal financial aid. Read More.
Local Governments Look to Nonprofits to Fill Revenue Gaps in 2011
Local governments across the nation are looking for any possible source of income to maintain public services and governmental employees. While payment in lieu of taxes (PILOT) agreements are not a new device, municipalities are turning to them more than ever. As Inside Higher Ed reports, diminished tax revenue, state-level support and a growing constituent resistance to taxation could shift the burden to nonprofit hospitals and universities. Lawmakers and others seeking increased revenue from nonprofits argue that each dollar the municipality exempts for nonprofits means that local residents have to pay more. “It’s an unfair burden on taxpayers,” said Seth McCoy, a spokeswoman. Read More.
