Tax and Regulatory Issues

Tuesday, November 28, 2017
CT Nonprofits Fear GOP Tax Overhaul Will Reduce Charitable Giving

WASHGINGTON, DC -- Both the tax bill the Senate hopes to vote on this week and a House-passed tax overhaul would keep the popular charitable deduction, but non-profits say the legislation still would shrink American help to those in need. CT Community Nonprofit Alliance President Gian-Carl Casa says the bills would “devastate” the state’s community based non-profits.

Friday, November 3, 2017
Newman's Own Foundation Buoyed by Tax Bill's Rescue Provision

WASHINGTON, DC -- The president and CEO of Newman’s Own Foundation has lobbied for six years to save his foundation from a 200 percent tax, but didn’t know until Nov. 2 that the provision had been included in the House GOP tax bill. The foundation would be hit with the 200 percent tax in 2018 unless it has divested, but would be spared if the House Ways and Means Committee bill provision—which would exempt private foundations from the penalty if they meet certain requirements—is enacted.

Tuesday, May 23, 2017
Lawmakers, Leave the Johnson Amendment Alone

HARTFORD, CT -- A reprinted letter on behalf of the CCP board and signed by Judith Meyers, CCP Board Chair, and Frances Padilla, CCP Chair of the Government Relations and Policy Committee, expressing CCP's strong opposition to legislation that would repeal the Johnson Amendment, was published in the CT Mirror's CT ViewPoints.

Friday, May 19, 2017
Inside The Growing Business Trend Of Giving All Your Profits Away

WESTPORT, CT -- Newman’s Own pioneered the idea of a philanthropic enterprise. Now, it’s helping to coalesce a new movement. The article also describes the Philanthropic Enterpise Act, written by the Joint Committee on Taxation, which would keep the current charitable abuse standards intact while formalizing the foundation’s existing way to earn money solely for charitable good.