There are many organisations which are exempt from paying tax on their earnings. Tax exemption is usually granted to what are known as ‘non-profit’ organisations.
The very moniker should describe accurately the fact that these companies make no profit on their activities. Yet around the world, and in The USA in particular, there is
an underlying theme of organisations which are in effect ‘companies’ and these ‘companies’ are in ‘business’ to make a profit, yet they are exempt from paying tax.
The meaning of this word once defined major parts of most societies around the world. It stood for an almost iron clad guarantee of correct processes, sales, contracts, gentlemen’s agreements, and more.