Hacker Newsnew | past | comments | ask | show | jobs | submitlogin

1. It's a non-profit organization, see page 2.

2. The chairman received just over $6.9 million dollars in compensation, see page 8.

3. Consider the above against what I replied to earlier.



The 6.9 million is income taxed so what's the problem, it would be the exact same tax scheme if it was a for-profit business.


It would be double taxed in a for profit. The business would be taxed and the income would be taxed.


No, corporate taxes are paid on net income which does not include salary


The business would not necessarily be taxed. Corporate taxes are on profits, not revenues.


One of the justifications argued for non-profits is they "don't pay out profits to owners".

MoCo/Fo is one, particularly outlandish, example where a "non-profit" makes a substantial profit and pays it out to its owner(s).


And anything paid out to owners in the form of salary is taxed. The point is that they can't pay dividends or do buybacks




Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact

Search: