From lowering corporate taxes to health insurance mandates to the impact on the middle class, there are many headlines out there related to the recently passed House and Senate tax bills.
One item that is lost in the mix is the provisions that were released that specifically impact tax-exempt hospitals and other nonprofits. The provisions are wide-ranging and include changes to tax-exempt bonds, executive compensation and unrelated business taxable income. The chart below provides a high-level overview of the components that would directly affect these providers:
While the final outcome is unclear, it is clear that individuals and business are not the only ones being impacted. Tax-exempt hospitals and other non-profits will also be affected. All organizations need to be watching for updates and revisions as we wait for a final version to pass.
If you are in the Jackson, Mississippi, area, join us tomorrow for Tax Reform: How 2017 Will End and Expectations for 2018. Otherwise, we will stay on top of the latest updates and keep you informed.
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