Clinton Foundation Wins Tax Ruling
President Bill Clinton’s presidential library foundation is eligible for a $3.5-million tax break meant for economic development, the Arkansas Supreme Court ruled, rejecting the state’s argument that nonprofits shouldn’t receive such aid.
The court said unanimously that any legitimate business, including nonprofits, was entitled to the assistance.
The William J. Clinton Presidential Foundation sought the tax break in 2002 as it built the $165-million museum complex on the south bank of the Arkansas River in Little Rock. The state said it wasn’t eligible, but the foundation argued it should be because the library and museum center brought tourists and generated jobs. The library has had about 400,000 visitors since opening last November.
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