Publishing: Paying Taxes on Nonprofits

Magazines published by tax-free organizations may not make profits, but some of those that take advertising certainly make money. By the end of the year, the Journal of the American Medical Association will have sold some $12 million worth of ads; the National Geographic will have taken in an estimated $8.6 million in advertising revenue; Nation's Business, published by the U.S. Chamber of Commerce, should earn $4,000,000 from ads; and the American Association for the Advancement of Science's Science will probably have ad revenues of $2.2 million. For years, taxpaying competitors of these publications complained that their tax-free...

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