The Nonprofit Sector's Capital Constraint: Does It Provide a Rationale for the Tax Exemption Granted To Nonprofit Firms?:

摘要: The exemption of the nonprofit sector from corporate income tax is an implicit subsidy that has received little attention in literature A fundamental question concerning this its rationale. present analysis suggests theoretical basis for rationale previously proposed by Hansmann, sector's capital constraint justifies exemption, relies heavily on output effect exemption. article first might not be effective. Granting effective constraint, equivalence ration to a partial factor used show allocation resources. If targeted rationed factor, it can have no misallocation resources because immobile. falls mobile capital, avoid moving sector. This must worsen productio...