Sounds like the beginning of an old Steve Martin comedy routine, but this is real and it isn’t funny.
National hospital chain, Quorum Health, is moving its assets into a “nonprofit” entity so that it can milk government spending programs like 340B and stop paying taxes:
Quorum Health said the shift will allow it to move away from its current private equity-backed ownership structure, unlocking new ways for its hospitals to receive tax-exempt funding and “philanthropic support” through new partnership opportunities.
One of those opportunities is 340B Drug Pricing Program eligibility, which the health system said will bring $11 million in value every year. Tax exemptions will also bring $13 million in annual savings, it added.
This “nonprofit” hospital gambit is simply joining in on a tax dodge that costs the government tens of billions of lost revenue every year.
The post You Can Earn Millions of Dollars and Pay NO Taxes appeared first on Unleash Prosperity.
