Tuesday, July 3, 2012

Memphis could ask nonprofits to make tax payments

Memphis may join the growing list of cash-strapped cities that ask nonprofit and tax-exempt organizations to make payments in lieu of tax.

The City Council will vote Tuesday on a resolution to form a committee to explore the idea.

"We want to see if this is feasible, and if it is feasible, how much revenue it could generate," said council member Janis Fullilove, who sponsored the resolution.

Fullilove said the committee, if approved, would focus on tax-exempt and nonprofit entities that gross $15 million or more annually...

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