Theos-Talk Archives (November 1998 Message tl00174)

At 09:00 PM 11/2/1998 -0500, you wrote:
M K Ramadoss wrote:
Organizations which are incorporated in a foreign country cannot
get tax
exempt status in this country. Nor can they receive the assets
from a US
tax exempt organization when the latter dissolves. There are some
foreign
organizations such as TS, Adyar

Bart:
	The TSA is incorporated in the United States. Do you realize
that you
are advocating the harrassment of not-for-profits into
non-existence, by
the way?

MKR: Responds. What I wrote above is in the US Internal Revenue
Code which
is the law of the land.

MKR:
In understanding tax law, think of Uncle Sam as your financial
partner.
When any income is received, Uncle Sam get his share. When you
get a tax
break Uncle Sam chips in his share. So when you contribute to a
tax exempt
deductible contribution, Uncle Sam is your partner. So Uncle Sam
is the
partner who has an investment in the tax exempts, which means
your and my
tax money is supporting all tax exempts.

Bart:
That's closer to a communist point of view (where the state has
the
right to all your money, and gives you what it thinks is fair)
than the
American point of view (where taxes are a fee paid to the
government for
services rendered).

MKR:

What I have stated is how the tax law works. Anyone who deals
with US Tax
Code knows that is how it works.

.....mkr

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