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Fw: Should For-Profit Companies Close Their Doors ?
From: Jim Fleming <firstname.lastname@example.org>
To: email@example.com <firstname.lastname@example.org>
Date: Monday, January 11, 1999 4:13 AM
Subject: Should For-Profit Companies Close Their Doors ?
>Why is the United States Government, once again, promoting the
>creation of another non-profit company, in the registry industry,
>when IRS laws clearly state, that non-profit companies should NOT
>be allowed to engage in a business, normally carried on for profit.
>In the case of ARIN <http://www.arin.net> and now the ICANN
><http://www.icann.org> we see two companies that clearly will derive
>their income from registry activities which are handled already by
>for profit companies. Why is the U.S. Government, encouraging the
>creation of these non-profit companies to compete with for-profit
>companies, when for-profit companies are not allowed to have
>access to the same assets, and are required to pay taxes.
>How are for-profit companies expected to continue to exist, when the
>U.S. Government is assisting in the creation of non-profit companies
>that will compete, contrary to U.S. Government IRS regulations ?
>Naperville, IL 60563
>Trade associations, chambers of commerce, real estate boards,
>and other business leagues that meet the requirements of § 501(c)(6)
>are exempt from federal income tax."
>"A business league, in general, is an association of persons having
>some common business interest, the purpose of which is to promote
>such common interest and not to engage in a regular business of a
>kind ordinarily carried on for profit."
>"No part of its net earnings may inure to the benefit of any private
>shareholder or individual and it may not be organized for profit or
>organized to engage in an activity ordinarily carried on for profit
>(even if the business is operated on a cooperative basis or produces
>only sufficient income to be self-sustaining)."