Congress, WVU, Mountaineer Athletic Club discussed on MetroNews Talkline with Hoppy Kercheval

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Lot of that universities benefit from this nonprofit status but clearly congress is not quite as empathetic as might it might have been ten years or twenty years ago toward this whole nonprofit status of college and university to when it comes to the ethnic departments so these are significant of elements my understanding is all in at wvu the mountaineer athletic club collected let's see it's annual fund this year collected about fifteen million dollars and most of that is four priorities seating so of the fifteen million dollars collected most of that is for the priority seating and all of that fifteen million would have been subject to the eighty percent tax deduction by those who donated but now under the change in the wall none of that would be tax deductible so we'll ask shane lyons coming of weight or whether he thinks that will have any impact on any impact on donations i did ask i was asking questions about this this morning with some folks in trying to find out what about buyouts because the biopsy getting larger what did the guy gets are at arizona state like twelve million dollars or ten million dollars and apparently the latest i got was that a buyout payment is not subject to the excise tax while payment would not be that was the latest i heard this morning but again a lot of people just sort of sorting through this now in trying to figure out what it is but you're going to be hearing a lot more about this probably in this sports pages why'd it really transcends that because you're talking about several billion dollars the colleges and universities are going to have to pay to the federal government through this excise tax and also uh additional revenue the federal government's gonna get because the deduction for that so donation for the priority seating no longer there either right more on this coming up later we'll take a break when we come back red macklin metronews statewide correspondent we'll be right back have you ever wondered just who are the friends of coal while they are 50000 west virginia families who support the state's coal industry and they look a lot like you honest hardworking good neighbours who want a future for themselves and their state they're coal miners housewives schoolteachers mechanics doctors college professors pizza delivery guys your friends love friends of coal.

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