Montana forgoes $60M in income taxes from nonprofit corporations

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