Comments on: VSP Tax Appeal to be Decided by Supreme Court http://www.ranchocordovapost.com/2008/12/10/vsp-tax-appeal-to-be-decided-by-supreme-court/#utm_source=feed&utm_medium=feed&utm_campaign=feed Local News, Events, Things to Do Thu, 29 Jul 2010 03:01:42 +0000 hourly 1 http://wordpress.org/?v=abc By: steve_swv http://www.ranchocordovapost.com/2008/12/10/vsp-tax-appeal-to-be-decided-by-supreme-court/comment-page-1/#comment-1611 steve_swv Wed, 28 Jan 2009 12:10:07 +0000 http://www.ranchocordovapost.com/?p=1948#comment-1611 The VSP Website states that: "In 1960, VSP was granted exemption, pursuant to Internal Revenue Code § 501(c)4, from federal income taxes ." IRC code 501(c)4: 501(c)(4) exemptions are given to civic leagues or organizations not organized for profit and operated exclusively for the promotion of social welfare, or local associations of employees. Net earnings are devoted exclusively to charitable, educational, or recreational purposes.[9] The exemption applies so long as "...no part of the net earnings of such entity inures to the benefit of any private shareholder or individual."[10] Not sure that they follow all the rules...but this is WHY they were given tax exempt status. The VSP Website states that:

"In 1960, VSP was granted exemption, pursuant to Internal Revenue Code § 501(c)4, from federal income taxes ."

IRC code 501(c)4:

501(c)(4) exemptions are given to civic leagues or organizations not organized for profit and operated exclusively for the promotion of social welfare, or local associations of employees. Net earnings are devoted exclusively to charitable, educational, or recreational purposes.[9]

The exemption applies so long as "…no part of the net earnings of such entity inures to the benefit of any private shareholder or individual."[10]

Not sure that they follow all the rules…but this is WHY they were given tax exempt status.

]]> By: RC-1 http://www.ranchocordovapost.com/2008/12/10/vsp-tax-appeal-to-be-decided-by-supreme-court/comment-page-1/#comment-1474 RC-1 Thu, 11 Dec 2008 04:20:06 +0000 http://www.ranchocordovapost.com/?p=1948#comment-1474 How is it that they are a non-profit? Don't they make a product and then sell it? That sounds like a business in a capatlistic system to me unless there is something I am unaware of here. Maybe a VSP employee or someone in "the know" could lend some insight. How is it that they are a non-profit? Don't they make a product and then sell it? That sounds like a business in a capatlistic system to me unless there is something I am unaware of here. Maybe a VSP employee or someone in "the know" could lend some insight.

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