Alexander Reid Comments on Budget Bill Provision that Could Eliminate Endowment Tax for Private Colleges

News / September 29, 2021

Partner Alexander Reid is quoted in an article that was published by Law360’s Tax Authority on Sept. 29, 2021. The article “Budget Bill May Wipe Out Endowment Tax for Colleges” reports on a provision in the pending budget reconciliation bill that could lower or even zero out an excise tax on the net investment income of private colleges and universities.

“I think that it likely would reduce the number of schools that pay the tax, quite possibly to zero,” Reid told Law360. “I think that would be the main impact of it.”

Read the article (registration required).