What do you mean by tax-exempt financing, our organization is already tax-exempt?
By tax-exempt, we mean the interest earnings on the financing are exempt from federal income tax per Section 103 of the Internal Revenue Code. Because we do not pay income tax on the interest earned, the savings are passed on to the lessee in the form of lower interest rates. In contrast, a 'tax certificate' or 'sales tax exemption certificate' received by many nonprofit entities refers to a 'sales tax exemption' and/or exemption from paying federal income tax, not the ability to finance equipment tax-exempt.
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