Massachusetts May Tax College Endowments
Posted on May 11th, 2008
Hard up for cash, the state legislature in Massachusetts is considering a plan to tax college and university endowments that are valued at more than a billion dollars, according to University Business.
The legislature's rationale is simple. All that money in one place makes the lawmakers question whether the state's universities are really non-profit. Nine universities in the state have endowments worth more than a billion dollars.
How much is a billion dollars?
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