Planners often think that exempt property means that it is absolutely immune from collection.
FORBES: Wrong.
Now he raises cattle instead, an easy way to exempt property from reform.
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Having property be exempt from local real estate taxes is often much more challenging than simply qualifying as a 501(c)(3) organization.
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On Friday (March 2) the state legislature is holding a hearing on a bill to exempt horses from the personal property tax altogether.
FORBES: Tax Rolls Reveal Cars Of The Rich (But Not Horses)
Most filers have no property that they lose because they can exempt so much based on state and federal laws.
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Both are exempt from income taxes, sales taxes and in many cases local property taxes.
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They are exempt from federal, state, and local income taxes and in some cases from property and sales taxes.
FORBES: Why Should The NFL And PACs Get The Same Tax Advantages As Soup Kitchens?
Soon (after 2011) not only payments for services will be covered, but payments for property too, as well as payments made to corporations that were traditionally exempt.
FORBES: I'm Sending An IRS 1099: 1099 Are You Outta Your Mind?
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