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New excise tax on compensation exceeding $1 million, tax-exempt organizations

New excise tax on compensation exceeding $1 million

The new tax law (Pub. L. No. 115-97, enacted December 22, 2017) includes a provision imposing a new excise tax on compensation exceeding $1 million paid by tax-exempt organizations.

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A report—written by KPMG tax professionals Alexandra O. Mitchell, Preston J. Quesenberry, and Randall S. Thomas and that was published in Tax Notes and is provided by permission of the publisher Tax Analysts—examines the new excise tax paid on remuneration exceeding $1 million paid by tax-exempt organizations and discusses technical issues arising from the statute’s borrowing of several terms and concepts from section 162(m). This report also explores numerous questions raised by other defined terms in the statute and offers possible interpretations for consideration.

 

Read the June 2018 report [PDF 988 KB] An Excess of Uncertainty: The New Tax on Tax-Exempt Compensation

 

For more information, contact a tax professional with KPMG’s Washington National Tax practice:

Alexandra Mitchell | +1 202 533 6078 | aomitchell@kpmg.com

Preston Quesenberry | +1 202 533 3985 | pquesenberry@kpmg.com 

Randall Thomas | +1 202 533 3786 | randallthomas@kpmg.com

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