- House GOP leaders released
- Colleges and universities will pay a 1.4% excise tax on their endowment investment income if the "Tax Cuts and Jobs Act" is passed.
- It's a big change from the current system, where college endowments are not taxed.
Under the proposed sweeping legislation, p
That's a big change from the current system, where colleges aren't taxed on their endowment earnings because they're nonprofit institutions.
For fiscal year 2017, college endowments with more than $500 million had a median investment gain of 13.3%. For endowments of all sizes, that gain was 11.3%
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