Reading Time: 2 minutesBy: D. Larry Crumbley, Contributor to the South-Western Federal Taxation series An excise tax at the Federal corporate tax rate (21 percent) is applied to the five highest-paid covered employees of tax-exempt organizations where such employees’ remuneration exceeds $1 million or the employee receives excess parachute payments. This excise tax applies to universities and their athletic associations (e.g., coaches). IRC […]
Coaches Are Now More Expensive for Universities with the New Excise Tax
