Should Churches pay Taxes??

[Dr. HK]

I started this thread as a result of a sub topic of another thread. Should Churches pay taxes? Just curious about your thoughts. I ask this as a result of this article
http://www.businessweek.com/articles/2012-07-10/how-the-mormons-make-money#p2

some of the things that piqued my interest was this stock holdings, mega malls, theme parks, etc...

"As a religious organization, the LDS Church enjoys several tax advantages. Like other churches, it is often exempt from paying taxes on the real estate properties it leases out, even to commercial entities, says tax lawyer David Miller, who is not Mormon. The church also doesn’t pay taxes on donated funds and holdings. Mitt Romney and others at Bain Capital, the private equity firm he co-founded in 1984, gave the Mormon Church millions’ worth of stock holdings obtained through Bain deals, according to Reuters. Between 1997 and 2009, these included $2 million in Burger King (BKW) and $1 million in Domino’s Pizza (DPZ) shares. Under U.S. law, churches can legally turn around and sell donated stock without paying capital-gains taxes, a clear advantage for both donor and receiver. The church also makes money through various investment vehicles, including a trust company and an investment fund called Ensign Peak Advisors, which employs managers who specialize in international equities, cash management, fixed income, quantitative investment, and emerging markets, according to profiles on LinkedIn (LNKD). Public information on Ensign Peak is sparse. In 2006 one of the fund’s vice presidents, Laurence R. Stay, told the Mormon-run Deseret News, “As we trade securities, all of the trading happens essentially with a handshake. … There’s lots of protections around it, but billions of dollars change hands every day just based on the ethics of the group—that people know that they can trust each other.

According to U.S. law, religions have no obligation to open their books to the public, and the LDS Church officially stopped reporting any finances in the early 1960s. In 1997 an investigation by Time used cross-religious comparisons and internal information to estimate the church’s total value at $30 billion. The magazine also produced an estimate that $5 billion worth of tithing flows into the church annually, and that it owned at least $6 billion in stocks and bonds. The Mormon Church at the time said the estimates were grossly exaggerated, but a recent investigation by Reuters in collaboration with sociology professor Cragun estimates that the LDS Church is likely worth $40 billion today and collects up to $8 billion in tithing each year."

 

[SoonerATC]

No - it would give government power over churches, ultimately power to destroy them. Taxation is the strongest weapon governments have.

 

[aestus]

If churches stays out of the political arena and remains impartial to political candidates and public policy, then yes. It is what's required of them to remain a non-taxable entity. However, churches have been riding on the line especially lately. If churches want to become more politically involved, then yes. Tax them.

 

[ignerntbend]

The megachurches that function as for profit institutions should be taxed. That would run a lot of insincere people out of the church business.

 

[Hobbes]

http://www.amfellow.org/church-charter-packet-how-to-start-your-own-independent-church/

If you want to start your own independent church, we will grant you a Church Charter. You will be asked to make a brief report to us every three months indicating what activities you have engaged in and providing a simple financial report.

If you follow the rules, your church will be exempt from Federal income tax and you will not have to make application or reports to the Federal Government.

Yours will be an independent church, with its own constitution, that is affiliated with the American Fellowship Church. You may choose any appropriate name you wish for your church.

For this service, we request an offering of $10 each calendar quarter for a total of $40 per year.

 

[kd5rjz]

Yes, all businesses should be taxed.

 

[Dr. HK]

Haha...

http://www.amfellow.org/church-charter-packet-how-to-start-your-own-independent-church/

if you want to start your own independent church, we will grant you a church charter. You will be asked to make a brief report to us every three months indicating what activities you have engaged in and providing a simple financial report.

If you follow the rules, your church will be exempt from federal income tax and you will not have to make application or reports to the federal government.

Yours will be an independent church, with its own constitution, that is affiliated with the american fellowship church. You may choose any appropriate name you wish for your church.

For this service, we request an offering of $10 each calendar quarter for a total of $40 per year.

 

[plissken]

Yes! All that consume (above the poverty level) will pay under the FairTax.

 

[Lurker66]

I dont think the churchs should be taxed but i think they should be made to keep financial records accurate and should be audited and accountable to the IRS.

 

[caojyn]

No body should have to pay taxes, but since we do, they should also.