Although taxexempt notforprofit businesses do not pay income

Although tax-exempt (not-for-profit) businesses do not pay income taxes, these firms may still benefit from the tax laws associated with lease transactions.

Solution

There are generally two type of firm, investor owned firm and not for profit firm. The investor owned firms operate to earn profit and maximize the value of firm while not for profit firm operate to help societies for improve the standard. Not-for-profit healthcare organizations mostly operate on charity and not for revenue. The government provide tax free arrange on the charity paid by individual that is induvial get relive on the tax payment for the charity payment amount.

Although tax-exempt (not-for-profit) businesses do not pay income taxes, these firms may still benefit from the tax laws associated with lease transactions.

Statement is true.