States move to tax estates

Here are the week’s top nonprofit stories reported elsewhere:

* Looking for revenue as Congress mulls reducing or even ending the federal estate tax, some states are targeting estates as a revenue source, with Connecticut approving higher taxes on many big estates, Washington okaying a new estate tax after a court struck one down, and North Carolina moving to prevent the end of its estate tax, The Wall Street Journal reported July 13.

* Charities increasingly are turning to fitness events to raise money and awareness, The New York Times reported July 7.

* A growing number of art collectors are donating only a share of art works or collections rather than entire works or collections, a strategy that yields them big tax breaks and lets them keep the art for part of the year, The Wall Street Journal reported July 6.

* New York City Mayor Michael Bloomberg gave $20 million to 400 arts and social-services groups in the city through a gift to the Carnegie Corp. of New York, marking the fourth straight year as mayor that he has increased his personal philanthropy, The New York Times reported July 6.

* With ownership changes at home-grown companies hurting corporate giving in the Boston area, many charities are turning to firms in the region’s growing biotech industry, The Boston Globe reported July 5.

* A senior Republican and senior Democrat on the Senate Appropriations Committee called for reversing proposed cuts in the public-broadcasting budget, and the chairman of the Corporation for Public Broadcasting dismissed charges by Democrats that he has put politics into programming, The New York Times reported July 12.

* The will of the late movie-maker Ismail Merchant calls for half his earnings to go to charity, Mid Day reported July 10.

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