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ktxhopem3276 t1_j5jtw6p wrote

Reply to comment by tesla3by3 in UPMC grew too fast, gained too much market share, report says | TribLIVE.com by imakestuffup725

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.

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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.

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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?

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