Nonprofit credit and debt counseling

From the 2024 DOR Tax Exemption Study

82.04.368 - Nonprofit credit and debt counseling Description Nonprofit organizations are exempt from the B&O tax for income received for providing credit and debt counseling services. Purpose To reduce the cost of credit and debt counseling services provided by eligible nonprofit entities. Taxpayer ($ in millions): savings FY 2024 FY 2025 FY 2026 FY 2027 State Taxes $0.000 $0.000 $0.000 $0.000 Local Taxes $0.000 $0.000 $0.000 $0.000 Repeal of Repealing this exemption would not increase revenues because currently no exemption taxpayers use it. Potential ($ in millions): revenue gains FY 2024 FY 2025 FY 2026 FY 2027 from full repeal State Taxes $0.000 $0.000 $0.000 $0.000 Local Taxes $0.000 $0.000 $0.000 $0.000 Assumptions - No taxpayers currently use this exemption. We expect no usage during the forecasted period of this study. - Nonprofits do not generally charge clients for credit and debt counseling services. Data Sources - Department of Revenue, Excise tax data Additional Additional Information Information Category: Nonprofit Year Enacted: 1993 Primary Beneficiaries: Nonprofit credit and debt counseling Taxpayer Count: 0 Program Inconsistency: None evident JLARC Review: Expedite