University ‘Very Disappointed’ That Tax Legislation Retains Endowment Tax - W. Raymond Ollwerther, Princeton Alumni Weekly

The endowment tax included in the tax-overhaul bill that received final congressional approval could cost Princeton “tens of millions of dollars,” a spokesman said. “We are pleased that the final tax bill preserved the exemption for graduate-student tuition waivers and employer-provided education assistance but very disappointed that it included a tax on the endowment earnings of the roughly 35 colleges and universities that will be affected,” said Dan Day, assistant vice president for communications. The legislation includes a 1.4 percent excise tax on net investment income at private colleges and universities with endowments larger than $500,000 per student. https://paw.princeton.edu/article/university-very-disappointed-tax-legislation-retains-endowment-tax