Mormon Mall City Creek profits go tax free to the Prophet

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  • user warning: Table './exmo_08072012/cache_filter' is marked as crashed and should be repaired query: UPDATE cache_filter SET data = '<p>by StillAnon May 2012</p>\n<p>KUTV in SLC says the profits from the condo sales, mall leases, etc., go to the non- profit, tax exempt part of the church. Couldn\'t have seen this coming.</p>\n<p><a href=\"http://www.kutv.com/news/features/local/stories/vid_797.shtml\" title=\"http://www.kutv.com/news/features/local/stories/vid_797.shtml\">http://www.kutv.com/news/features/local/stories/vid_797.shtml</a></p>\n<hr />\nStillAnon<br />\nRe: Surprise! City Creek profits, go tax free, to the Prophet!<br />\nSorry * coming, not company.\n<hr />\n<p>Once More<br />\nRe: Surprise! City Creek profits, go tax free, to the Prophet!<br />\nExcerpt from the text below the video:</p>\n<p>\"The arm of the LDS Church which served as “master developer” of Utah’s newest and most elaborate shopping, residential and office complex has federal “tax exempt” status.</p>\n<p>In response to questions from 2News, City Creek Reserve Inc, or CCRI, revealed it’s a “non-profit corporation.”</p>\n<p>As such, CCRI Spokesman Dale Bills noted the company “pays property and sales taxes.” But it appears CCRI may not pay federal income taxes.</p>\n<p>If City Creek Reserve makes money, it will go the LDS Church.</p>\n<p>“Much like a university endowment fund supports a university, any after tax return on investment supports the religious, charitable and educational mission of the Church,” Bills said….\"</p>\n<p>The report goes on to note that income from the condos is probably also tax-exempt.</p>\n<hr />\n<p>jbug<br />\nRe: Surprise! City Creek profits, go tax free, to the Prophet!<br />\nHoly crap! I wish all the cult members knew about this...maybe some of them would start to use their brains about TSCC??</p>\n<p>Nah, I doubt it. Tommy Boy could make films of himself doing cartwheels on piles of gold coins [tithing money] and put them on the internet and most TBM\'s would just oooh and aaah about how athletic the old fart is. Damn.</p>\n<hr />\nxyz<br />\nRe: Surprise! City Creek profits, go tax free, to the Prophet!<br />\nHmmm...why is this really no surprise at all?\n<hr />\n<p>Utah County Mom<br />\nRe: Surprise! City Creek profits, go tax free, to the Prophet!<br />\nIs this one of those \"it may not be ethical, but it\'s legal\" situations?</p>\n<p>Geez</p>\n<hr />\njust a thought<br />\nRe: Surprise! City Creek profits, go tax free, to the Prophet!<br />\nNow I\'m really curious about how the Taubman deal works.\n<p>\"Taubman owns and operates the retail center under a long-term participating air space lease.\"</p>\n<p>I think that means the church isn\'t exposed to the risks associated with renting out the commercial &amp; retail space. In other words, the church gets paid no matter happens. The p/l is already locked in AND it maintains ownership of the building and land.</p>\n<hr />\ndanboyle<br />\nwow, that jesus guy really knows how to work the federal tax system...\n<hr />\n<p>E2<br />\nRe: wow, that jesus guy really knows how to work the federal tax system....<br />\n+1 lol</p>\n<hr />\nguynoirprivateeye<br />\nRe: Surprise! City Creek profits, go tax free, to the Prophet!<br />\nYup; it\'s time to re-vamp our tax \'system\'; it Hasn\'t been changed much since the industrial days started.\n<p>&gt; did everyone see how Apple hides its taxes from California? by having \'an office\' in NV, -0- % tax rate.... U\'d think Californians would BE UP IN ARMS, but rather the Repubs have put the focus on the state deficeit.</p>\n<p>&gt; Buffet &amp; Romney pay Very Little %, while their employees pay MORE; (same as Boeing here)</p>\n<p>&gt; Washington citizens who live near state borders with ID &amp; OR... shop there for anything other than food; OR has -0-% sales tax, it is Lower in ID, but ID taxes food...</p>\n<p>One store straddles the state border; has some check-outs in WA, others in ID!</p>\n<hr />\nHeresy<br />\nThat explains how they were able to come up with so much<br />\ncash. The non-profit side is a cash cow. The for-profit side is probably still recovering from the downturn.\n<p>So it\'s just one more asset in the church side\'s portfolio. Can\'t blame them for investing. Can blame them for not giving to humanitarian needs instead.</p>\n<hr />\nLethbridge Reprobate<br />\nRe: Surprise! City Creek profits, go tax free, to the Prophet!<br />\nI hope an earthquake swallows it up!\n<hr />\nMia<br />\nRe: Surprise! City Creek profits, go tax free, to the Prophet!<br />\nGod: Are you honest in your dealings with your fellow man?\n<p>Prophet: Well of course! It\'s not difficult. There are only about 4 or 5 of them that I consider my equal. We all keep the same secrets and agree on the same scams. So yeah, i\'m honest with them.</p>\n<p>IMO, no member of the COJCOLDS should ever feel compelled to honestly answer this question when asked by church leadership.</p>\n<hr />\nguynoirprivateeye<br />\nno member of the COJCOLDS should ever feel compelled to honestly answer this question when asked by church leadership.<br />\n+100\n<p>? \"church pays SALES TAXES\" OH REALLY? On WHAT???</p>\n<hr />\n<p>CA girl<br />\nlol danboyle - well said</p>\n<hr />\n<p>Surrender Dorothy<br />\n+1 LOL<br />\nExcellent!</p>\n<hr />\n<p>caedmon<br />\nRe: wow, that jesus guy really knows how to work the federal tax system....<br />\nSo much for \'render unto Caesar\'.</p>\n<p>\"Recovery from Mormonism - www.exmormon.org\"</p>\n', created = 1493514666, expire = 1493601066, headers = '', serialized = 0 WHERE cid = '2:579f9013448ee7c297b3b47dd2001cde' in /home/exmormon/public_html/d6/drupal/includes/cache.inc on line 112.

by StillAnon May 2012

KUTV in SLC says the profits from the condo sales, mall leases, etc., go to the non- profit, tax exempt part of the church. Couldn't have seen this coming.

http://www.kutv.com/news/features/local/stories/vid_797.shtml


StillAnon
Re: Surprise! City Creek profits, go tax free, to the Prophet!
Sorry * coming, not company.

Once More
Re: Surprise! City Creek profits, go tax free, to the Prophet!
Excerpt from the text below the video:

"The arm of the LDS Church which served as “master developer” of Utah’s newest and most elaborate shopping, residential and office complex has federal “tax exempt” status.

In response to questions from 2News, City Creek Reserve Inc, or CCRI, revealed it’s a “non-profit corporation.”

As such, CCRI Spokesman Dale Bills noted the company “pays property and sales taxes.” But it appears CCRI may not pay federal income taxes.

If City Creek Reserve makes money, it will go the LDS Church.

“Much like a university endowment fund supports a university, any after tax return on investment supports the religious, charitable and educational mission of the Church,” Bills said…."

The report goes on to note that income from the condos is probably also tax-exempt.


jbug
Re: Surprise! City Creek profits, go tax free, to the Prophet!
Holy crap! I wish all the cult members knew about this...maybe some of them would start to use their brains about TSCC??

Nah, I doubt it. Tommy Boy could make films of himself doing cartwheels on piles of gold coins [tithing money] and put them on the internet and most TBM's would just oooh and aaah about how athletic the old fart is. Damn.


xyz
Re: Surprise! City Creek profits, go tax free, to the Prophet!
Hmmm...why is this really no surprise at all?

Utah County Mom
Re: Surprise! City Creek profits, go tax free, to the Prophet!
Is this one of those "it may not be ethical, but it's legal" situations?

Geez


just a thought
Re: Surprise! City Creek profits, go tax free, to the Prophet!
Now I'm really curious about how the Taubman deal works.

"Taubman owns and operates the retail center under a long-term participating air space lease."

I think that means the church isn't exposed to the risks associated with renting out the commercial & retail space. In other words, the church gets paid no matter happens. The p/l is already locked in AND it maintains ownership of the building and land.


danboyle
wow, that jesus guy really knows how to work the federal tax system...

E2
Re: wow, that jesus guy really knows how to work the federal tax system....
+1 lol


guynoirprivateeye
Re: Surprise! City Creek profits, go tax free, to the Prophet!
Yup; it's time to re-vamp our tax 'system'; it Hasn't been changed much since the industrial days started.

> did everyone see how Apple hides its taxes from California? by having 'an office' in NV, -0- % tax rate.... U'd think Californians would BE UP IN ARMS, but rather the Repubs have put the focus on the state deficeit.

> Buffet & Romney pay Very Little %, while their employees pay MORE; (same as Boeing here)

> Washington citizens who live near state borders with ID & OR... shop there for anything other than food; OR has -0-% sales tax, it is Lower in ID, but ID taxes food...

One store straddles the state border; has some check-outs in WA, others in ID!


Heresy
That explains how they were able to come up with so much
cash. The non-profit side is a cash cow. The for-profit side is probably still recovering from the downturn.

So it's just one more asset in the church side's portfolio. Can't blame them for investing. Can blame them for not giving to humanitarian needs instead.


Lethbridge Reprobate
Re: Surprise! City Creek profits, go tax free, to the Prophet!
I hope an earthquake swallows it up!
Mia
Re: Surprise! City Creek profits, go tax free, to the Prophet!
God: Are you honest in your dealings with your fellow man?

Prophet: Well of course! It's not difficult. There are only about 4 or 5 of them that I consider my equal. We all keep the same secrets and agree on the same scams. So yeah, i'm honest with them.

IMO, no member of the COJCOLDS should ever feel compelled to honestly answer this question when asked by church leadership.


guynoirprivateeye
no member of the COJCOLDS should ever feel compelled to honestly answer this question when asked by church leadership.
+100

? "church pays SALES TAXES" OH REALLY? On WHAT???


CA girl
lol danboyle - well said


Surrender Dorothy
+1 LOL
Excellent!


caedmon
Re: wow, that jesus guy really knows how to work the federal tax system....
So much for 'render unto Caesar'.

"Recovery from Mormonism - www.exmormon.org"