Viewing a single comment thread. View all comments

tesla3by3 t1_j5iap9j wrote

Reply to comment by ktxhopem3276 in UPMC grew too fast, gained too much market share, report says | TribLIVE.com by imakestuffup725

I get that. UPMC will cover the taxes by increasing their income. But a lot of that income comes from outside the city, outside the county, outside the state, heck, outside the country.

4

ktxhopem3276 t1_j5jtw6p wrote

Property taxes would be on a county and township basis. They don’t make profit because they spend any excess money on new buildings so there is no profit to tax.

2

tesla3by3 t1_j5jx6jr wrote

So ...

City residents pay property taxes to the school district.

UPMC does in fact make "profit"(revenue - expenses). In 2021 they had "excess money" of $843 million. A good bit of that money they invest in other companies.

UPMC finances the construction of new buildings by issuing bonds.

5

ktxhopem3276 t1_j5jxk25 wrote

They would probably find a way to rework their accounting to zero out excess revenue if they were subject to income tax. Does any entity besides the state have business income tax?

2