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Am Law 100 firm with practices in Business, Digital Assets and Data Management, Intellectual Property, Labor & Employment, Litigation and Tax.

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Molina takes part in arbitration panel at U.S.-Mexico Bar Association conference

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The Weekly Hill Update

It’s official: Former IP Partner John Murphy sworn in as district court judge

Serrato, Saraswat speak at IAPP Privacy. Security. Risk. conference

According to an Oct. 4, 2022, Wall Street Journal article titled “Endowment Tax on Wealthiest Universities Netted a Fraction of Predictions in 2021,” IRS figures show that the impact of a federal tax on universities’ endowment incomes has “so far been minimal.”  Established in 2017 at a time when wealthy universities were being criticized for continuing to raise tuition as their endowments thrived, the tax was initially expected to bring in $200 million per year, according to the article. In 2021, 33 schools paid a total of $68 million.  Partner Alexander Reid told the publication that this amounted to “a rounding error for the schools, a rounding error for the government, and really just a thumb in the eye more than anything.”  <a href="https://www.wsj.com/articles/endowment-tax-on-wealthiest-universities-netted-a-fraction-of-predictions-in-2021-11664886683?mod=Searchresults_pos1&page=1">Read the article (subscription required).</a>

Alexander Reid Quoted About Impact of Endowment Tax on Wealthy Universities

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