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Montana forgoes $60M in income taxes from nonprofit corporations

April 21, 2012 /

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Bear Paw Development Corporation is a private non-profit organization created for the purpose of administering programs to help improve regional economic conditions in Hill, Blaine, Liberty, Chouteau and Phillips Counties and the Fort Belknap and Rocky Boy's Indian Reservations.

Montana forgoes more than $60 million in taxes annually by not imposing corporate income taxes on the largest nonprofit corporations based here, a legislative study shows.

The study, by legislative researcher Megan Moore, found that the 1,527 largest nonprofit corporations based in Montana reported a combined $806.7 million in revenue, minus expenses, in their most recent tax data available, usually 2009 or 2010.

By CHARLES S. JOHNSON Missoulian State Bureau

Full Story: http://missoulian.com/news/state-and-regional/study-montana-forgoes-m-in-income-taxes-from-nonprofit-corporations/article_c113eef2-8b58-11e1-891d-001a4bcf887a.html

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