Could a $10 sale mean no more taxes for Noahs Ark theme park?
Source: Lexington Herald Leader
July 17, 2017 3:05 PM
On June 29, Williamstown City Attorney Jeffrey Shipp sent a letter to the Biblical amusement park Ark Encounter, rejecting their request to be exempted from a new safety tax because they are a religious organization.
Shipp said it was clear that Ark Encounter is a for-profit entity, which is how it has been listed with the Secretary of States office since 2011.
But the day before, Ark Encounter LLC sold its main parcel of land the one with the life-size Noahs Ark for $10 to their non-profit affiliate, Crosswater Canyon. Although the property is worth $48 million according to the Grant County Property Valuation Administrator, the deed says its value is only $18.5 million.
Thats the latest salvo in an escalating argument between local officials and Ark Encounter, but some are worried Ark Encounters maneuver is a precursor to declaring itself exempt from all taxes, including property taxes that help fund Grant County schools.......................
Read more: http://www.kentucky.com/news/state/article161782438.html#storylink=cpy
whow. this is sickening if this happens (tax exempt).
Visitors entered on July 6, 2016, the opening day of the Ark Encounter near Williamstown. The attraction features what creators say is a life-size depiction of the boat that Noah and his family would have traveled on during a biblical flood, including dinosaurs that they claim existed at the time. Charles Bertram cbertram@herald-leader.com
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riversedge
(70,204 posts)Embed code
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Protest at the Ark Encounter park
Jul 08, 2017
Group protests the anniversary of the opening of the Ark Encounter park in Williamstown.
aslitz@herald-leader.com
Read more here: http://www.kentucky.com/news/state/article160298584.html#storylink=cpy
Sneederbunk
(14,290 posts)Hassin Bin Sober
(26,326 posts)rurallib
(62,411 posts)7962
(11,841 posts)SergeStorms
(19,199 posts)lying and cheating the hand that fed it. This ought to go over like a fart in church.
yellowcanine
(35,699 posts)FakeNoose
(32,634 posts)Dewey, Cheatham & Howe, LLC
Sunlei
(22,651 posts)because people can 'donate' anything they want to charity.
County officials you're stuck with a giant TAX FREE Ark
7962
(11,841 posts)The amount can be anything, even ONE dollar. Its a formality.
Now, i dont have a problem not taxing a church, but it should only be the actual CHURCH and not any other property the church owns.
If this ark attraction is truly non-profit, then they have to prove they're not making any profit. From what I've seen and read, they're making plenty of money. Wheres it going??
Cicada
(4,533 posts)The Red Cross can receive a billion in donations and spend only half and still be a tax exempt non profit. The test is what the receipts are for. If the purpose is charitable, not to enrich individuals, then the organization is tax exempt. But if they have profit from a business not related to their charitable purpose then those profits are taxable.
Tax on property rather than income has different rules in different states.
SCVDem
(5,103 posts)mingling with humans was just too much for any reality based believers.
Schadenfreude is when the 'holier than thou' get hoisted on their own petard.
I do feel sorry for the citizens who voted NO on this boondoggle.
Historic NY
(37,449 posts)then pray that it doesn't sink.
Girard442
(6,070 posts)Historic NY
(37,449 posts)SergeStorms
(19,199 posts)they've made boats from concrete before, with some success. It's just water displacement, and concrete can displace water just like any other material. Google it.
dembotoz
(16,802 posts)Not similar at all
jb5150
(1,178 posts)isn't it illegal to shield taxable assets.
maxsolomon
(33,327 posts)BAM, tax-free Church.
hatrack
(59,584 posts)No sympathy - zero - nada - zilch ever.
You made your manger, so go lie in it.