Gary W. Herschman, a Member of the Firm in the Health Care and Life Sciences practice, in the firm’s Newark and New York offices, was mentioned by Bloomberg BNA Health Care Blog, in “Nonprofit Hospitals Must Watch Out for Tax Liability,” by Mary Anne Pazanowski.
Following is an excerpt:
HLR advisory board member Gary Herschman, with Epstein Becker Green in Newark, N.J., told me that the case should put hospitals outside New Jersey on alert as well. Many states have laws granting property tax exemptions to nonprofit corporations, he said. States and localities under growing budgetary constraints are seeking more sources of income, and the taxation of formerly exempt properties might provide it, he said.