Spiritual Money Laundering

Post by **_Gazelam** » Wed Jan 17, 2007 7:38 am

I did a google earth search on it, and your right, its about 7 blocks till you get to that wash, and that seems to be the cutoff. I wonder what the neighborhood was like before then. Vegas changes so fast. Do oyu recall what was up there before the Temple, besides the newspaper publishers house?

Post by **_Mercury** » Wed Jan 17, 2007 7:41 am

Gazelam wrote:I did a google earth search on it, and your right, its about 7 blocks till you get to that wash, and that seems to be the cutoff. I wonder what the neighborhood was like before then. Vegas changes so fast. Do oyu recall what was up there before the Temple, besides the newspaper publishers house?

Lots. Examine the county records.

Post by **_Brackite** » Sun Jan 21, 2007 3:38 am

Hi There,

Speaking of the Las Vegas Temple, here is a Photograph of the Las Vegas Temple:

Isn't the Las Vegas Temple nice looking? I think so.

Post by **_Jason Bourne** » Sun Jan 21, 2007 3:44 am

Sono_hito wrote:Im fairly curious. As a tax free organization, arent they legaly responsible for publicly showing their accounting? Im VERY curious as to WHY they can keep that status without accountability for where they put those funds, or even how much comes in?

Church's are not required to file a Form 990 (tax return for an NFP Corp) nor disclose their financials to the public. However, other charitable organizations are required to file a Form 990 that is available for public review and in many cases the state they operate in require them to publish audited (by an independent CPA Firm) financials.

Post by **_Jason Bourne** » Sun Jan 21, 2007 3:46 am

They are audited by the government for the tax-exempt part.

No most lilely they are not.

Supposedly this money is not coming from there, but from the for-profit businesses the church owns. As long as they pay their taxes on the for-profit, there is no reason for the government to complain. And I'm very sure they pay all their taxes. If they don't give the government a reason to require them to open the books, the government won't. Which is why the church always settles all lawsuits out of court: they do NOT want the government requiring them to submit their books to the courts.

The IRS can and may audit the LDS Church's for profit activities. IRS often audits corporations for no reason other then to audit them and hopefully raise revenue.

Post by **_harmony** » Sun Jan 21, 2007 5:03 am

Jason Bourne wrote:
They are audited by the government for the tax-exempt part.

No most lilely they are not.

Supposedly this money is not coming from there, but from the for-profit businesses the church owns. As long as they pay their taxes on the for-profit, there is no reason for the government to complain. And I'm very sure they pay all their taxes. If they don't give the government a reason to require them to open the books, the government won't. Which is why the church always settles all lawsuits out of court: they do NOT want the government requiring them to submit their books to the courts.

The IRS can and may audit the LDS Church's for profit activities. IRS often audits corporations for no reason other then to audit them and hopefully raise revenue.

Ah. I had it backwards. Okay. Audits for the for-profit part, and no audit for the not-for-profit part.

Post by **_Mephitus** » Sun Jan 21, 2007 7:54 am

How does it translate legaly when a tax exempt organization makes "for-profit" purchases? Is only the "for-profit" part checked on?

Post by **_Jason Bourne** » Mon Jan 22, 2007 1:41 am

Sono_hito wrote:How does it translate legaly when a tax exempt organization makes "for-profit" purchases? Is only the "for-profit" part checked on?

A tax exempt entity (Church's accepted) file annually a Form 990. If they earn income that is unrelated to their exempt status thay pay tax on it. It is called for and NFP Unrelated Business Income Tax. And NFP can also own subsidiaries that are for profit businesses and if they are corporations they file Form 1120 and pay income tax like every other corporation.

I would presume (don't know for sure) that the Church's for profit businesses are subsidiaries of the Corp of the Presiding Bishop and file seperate income tax returns and financials that may be required as well.

But for it's tax exempt activity the Church files no financials or tax reporting information at all nor is it required to do so under current law.

Post by **_Mercury** » Mon Jan 22, 2007 5:11 am

Jason Bourne wrote:
Sono_hito wrote:How does it translate legaly when a tax exempt organization makes "for-profit" purchases? Is only the "for-profit" part checked on?

A tax exempt entity (Church's accepted) file annually a Form 990. If they earn income that is unrelated to their exempt status thay pay tax on it. It is called for and NFP Unrelated Business Income Tax. And NFP can also own subsidiaries that are for profit businesses and if they are corporations they file Form 1120 and pay income tax like every other corporation.

I would presume (don't know for sure) that the Church's for profit businesses are subsidiaries of the Corp of the Presiding Bishop and file seperate income tax returns and financials that may be required as well.

But for it's tax exempt activity the Church files no financials or tax reporting information at all nor is it required to do so under current law.

What, if any regulations are there on the transferring of assets from non profit to for profit organizations?