Tuition and fees

From the 2024 DOR Tax Exemption Study

82.04.4282(5) - Tuition and fees Description Nonprofit educational services may deduct income subject to the B&O tax for amounts charged for tuition fees. Purpose Reduces the cost of education provided by schools and colleges. Taxpayer ($ in millions): savings FY 2024 FY 2025 FY 2026 FY 2027 State Taxes $11.820 $12.280 $12.820 $13.430 Local Taxes $0.000 $0.000 $0.000 $0.000 Repeal of Repealing this deduction would increase revenues. exemption Potential ($ in millions): revenue gains FY 2024 FY 2025 FY 2026 FY 2027 from full repeal State Taxes $0.000 $11.250 $12.820 $13.430 Local Taxes $0.000 $0.000 $0.000 $0.000 Assumptions - This repeal takes effect July 1, 2024, and impacts 11 months of collections in fiscal year 2025. - Growth rate mirrors the services and other activities B&O taxable activity growth rate reflected in the Economic and Revenue Forecast Council's March 2023 forecast. Data Sources - Department of Revenue, Excise tax data - Economic and Revenue Forecast Council, March 2023 forecast Additional Additional Information Information Category: Nonprofit Year Enacted: 1935 Primary Beneficiaries: Nonprofit educational services Taxpayer Count: 95 Program Inconsistency: None e