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(KSDK St. Louis)   Senior living community with $450K entrance fees and $98M in annual profit claims it doesn't owe any taxes of any kind -- because they're a non-profit   (ksdk.com ) divider line 73
    More: Stupid, nonprofits, Board of Equalization, tax-exempt, check-the-box, home, Presbyterian, tax forms, St. Louis County  
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7071 clicks; posted to Main » on 08 Feb 2013 at 8:22 AM (2 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-02-08 09:43:56 AM  

Warthog: Is this not America?  Is this not a business?  Are businesses not entitled to shield their lifeblood capital from the greedy paws of the communist tax man?

That's what Mitt Romney taught me -- taxing a business is like murdering a kitten with a dildo.

Don't murder a kitten with a dildo.


"An unlimited power to tax involves, necessarily, a power to destroy"  Daniel Webster

"That the power to tax involves the power to destroy [is] not to be denied "John Marshall

Effect of luxury tax on boats and planes for fiscal year 1991 (in millions of dollars):
Boats Planes Total
Tax-related jobs lost 7,600 1,470 9,070
Unemployment
benefit cost -$2.1 -$0.6 -$2.7
Income tax loss -$16.1 -$4.5 -$20.6
Luxury tax revenue +$3.0 +$1.0 +$4.0
Net loss -$15.2 -$4.1 -$19.3

total job loss by 1993-25,000
 
2013-02-08 09:54:39 AM  
While it is stupid that a luxury place like this would be exempt from taxes the article is annoying in they way it shows the kids in the classroom and the luxury side.  I HATE one sided reporting.
 
2013-02-08 09:58:58 AM  
Those poor middle class suburbanite white kids, won't anyone think of them??
 
2013-02-08 10:01:41 AM  
I sent them a very nasty email - I urge all you other Farkers to do the same
 
2013-02-08 10:02:56 AM  

alienated: Okay, I will be honest.
Many years ago, myself and pooter and deveyn came up with an idea to form a non profit entity to host the worlds biggest fark party, in las vegas. The reasons for wanting to do a non profit were many, but mostly due to the fact that we wanted the liquor / beer money to go to us, instead of outside vendors, so we could then funnel said money to real actual charities. I wont get into the nasty details as to why MY idea got shot down  and how you folks ended up with whatever the hell you did end up with as far as a world fark party, but my only goal was to have a great time and raise money for things that needed it. I was planning, and all involved agreed- we would only take so much as what it cost to run, plus time. I , myself, would have made about 3 grand.


i286.photobucket.com
 
2013-02-08 10:04:34 AM  
I know we said in our business proposal that we were going to pay taxes, but what we meant was go fark yourself.
 
2013-02-08 10:21:42 AM  

stonicus: I know we said in our business proposal that we were going to pay taxes, but what we meant was go fark yourself.

and thanks for paying for the construction

.
 
2013-02-08 10:23:55 AM  
It doesn't really sound like a luxury place to me. The monthly fees are identical to the ones we pay for my father at a Lutheran place. His entrance fee was only 1/3 of that though. His place is nice but by no means extravagant. They also have a policy of never sending anyone away once they have entered.
 
2013-02-08 10:26:06 AM  

Warthog: Is this not America?  Is this not a business?  Are businesses not entitled to shield their lifeblood capital from the greedy paws of the communist tax man?

That's what Mitt Romney taught me -- taxing a business is like murdering a kitten with a dildo.

Don't murder a kitten with a dildo.


If there was some decent pictures in here i wouldn't have to
 
2013-02-08 10:32:53 AM  

not5am: stonicus: I know we said in our business proposal that we were going to pay taxes, but what we meant was go fark yourself.

and thanks for paying for the construction.


And for our salaries. I'm going to make a totally ridiculous and unfounded assumption that a substantial chunk of the 98 million dollar revenue is going to operating costs for "salaries and bonuses" for the top folks who run this "not for profit" business.
 
2013-02-08 11:07:05 AM  
They put out $3.5m last year in charitable giving.
This newer facility has 1 person out of 300 that qualifies, estimates there will be more.
At $450,000 entrance fee and (let's say average) $4000 monthly fees.
They aren't accepting anybody that isn't banking $1mil+, along with with steady future revenue, coming in. I'm guessing they don't have many residents at any other facilities that qualify for charity.
Just because they give out a few bucks along the way shouldn't qualify them as tax-exempt non-profit.
 
2013-02-08 11:40:33 AM  

DoBeDoBeDo: buz: The NFL is also a non-profit organization (look it up, I'll wait.) it just means that they have better attorneys than you do.

Actually it means they don't have shareholders that receive dividends from profits.   But, yes, it does mean that the attorneys have to do some legal wrangling.


The NFL is a non-profit. The independently owned TEAMS, on the other hand, are obviously for-profit entities.
 
2013-02-08 11:49:49 AM  

Philbb: I have grown up and lived near retirement communities, I have, long ago, lost all respect for them. They want to be able to buy homes in certain areas and not pay taxes that would benefit things like schools and infrastructure for later generations. One of the claims they make is that they, "don't have children in public schools" therefore they shouldn't have to pay taxes that support local school districts. Even though, admittedly,  their children to not attend these schools yet their grandchildren do.


As have I.  fark retirement communities and the greedy, whiny bluehairs in them.
 
2013-02-08 12:19:45 PM  

Warthog: Is this not America?  Is this not a business?  Are businesses not entitled to shield their lifeblood capital from the greedy paws of the communist tax man?

That's what Mitt Romney taught me -- taxing a business is like murdering a kitten with a dildo.

Don't murder a kitten with a dildo.


What about the kitten without a dildo?  Can we murder that one?
 
2013-02-08 01:17:42 PM  

TheGreenMonkey: Don't murder a kitten with a dildo.

What about the kitten without a dildo?  Can we murder that one?


Farkers are NOTORIOUS kitten killers.
 
2013-02-08 01:49:59 PM  
Non profit my ass.
 
2013-02-08 02:09:27 PM  

NutWrench: Well, which is it? "Fully intended" or "never intended?" You can't lie out of both orifices without imploding.
The city should sue to recover the taxes.


Wouldn't that be fraud?  "I will do X, as stated in this proposal."  "I never meant X, I meant the opposite of X"  How is that not intent to defraud?
 
2013-02-08 02:30:44 PM  

NutWrench: deanis: Believe it or not, there is still cost involved in running a non-profit.

So how much does landscaping, maintenance and staff salaries for a retirement community cost? 98 million?


18 communities...
 
2013-02-08 03:29:15 PM  
"When the company first pitched the idea of Aberdeen Heights to the City of Kirkwood, it presented a 350 page document explaining why issuing bonds would be a great idea. On page 165 it states that it fully intended to pay property taxes and estimated taxes this year alone would be $935,000."

How any board or committee could grant their request after they stated they intended to pay property taxes in their initial proposal in beyond me. You said you would. You lost. It's over. Write the check.
 
2013-02-08 08:40:28 PM  

hasty ambush: Warthog: Is this not America?  Is this not a business?  Are businesses not entitled to shield their lifeblood capital from the greedy paws of the communist tax man?

That's what Mitt Romney taught me -- taxing a business is like murdering a kitten with a dildo.

Don't murder a kitten with a dildo.

"An unlimited power to tax involves, necessarily, a power to destroy"  Daniel Webster

"That the power to tax involves the power to destroy [is] not to be denied "John Marshall

Effect of luxury tax on boats and planes for fiscal year 1991 (in millions of dollars):
Boats Planes Total
Tax-related jobs lost 7,600 1,470 9,070
Unemployment
benefit cost -$2.1 -$0.6 -$2.7
Income tax loss -$16.1 -$4.5 -$20.6
Luxury tax revenue +$3.0 +$1.0 +$4.0
Net loss -$15.2 -$4.1 -$19.3

total job loss by 1993-25,000


not trolling, just interested in where these figures are from?
 
2013-02-08 08:47:57 PM  
the Greatest Generation.

"I got mine, biatches!"
 
2013-02-08 11:41:17 PM  
How much you wanna bet these old bastards are collecting social security and sucking up Medicare funds.
 
2013-02-09 05:07:53 AM  
but what filesystem are they using?  ext2??
 
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