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And for the record, this is because FOR-PROFIT corporations have a disallowed deduction for exec comp over $1M, thus the disallowed portion gets taxed at 21% (I just computed this for some of the execs at my company).
Since a non-profit "doesn't pay taxes", the 21% excise tax puts them on a level playing field with for-profit companies.
Since a non-profit "doesn't pay taxes", the 21% excise tax puts them on a level playing field with for-profit companies.