Ivy League Endowments Face 1.4% Levy Under Trump Tax Overhaul

June 28, 2019, 9:48 PM

The Internal Revenue Service has released rules with the formula that determines how much Ivy League universities and other wealthy colleges will pay under a new tax.

The rules define how colleges and universities count the number of full-time students and offer some guidance about what income and assets are subject to the tax. Those factors and others will determine how much they will owe on their investments under the new 1.4% excise tax, according to IRS guidance issued June 28.

In the crosshairs are some of the richest research universities, including Harvard, Yale, Stanford, and Princeton, as well as ...

To read the full article log in.

Learn more about a Bloomberg Tax subscription.