Congress threatens NFL tax exempt status over Redskins name (salaries, activist, regular)
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No, the NFL does not make a profit, they pass the proceeds onto the teams who receives the profits, and pays taxes..
The way these left wing kooks wine about it, one would think the NFL has some special exemption written by Congress. They dont..
They kind of do.
"business leagues, chambers of commerce, real estate boards, boards of trade, or professional football leagues (whether or not administering a pension fund for football players), not organized for profit … ."
Never knew the NFL was a 501c charity, good for Tom Coburn but I don't suspect it went anywhere
Quote:
Oklahoma Senator Tom Coburn introduced a bill yesterday that would strip the
National Football League of its tax-exempt status. The PRO Sports Act proposed
by the Republican lawmaker would prohibit professional sports organizations with
annual revenue of more than $10 million from filing as nonprofit organizations.
In addition to the NFL, the bill would also change the status of the National
Hockey League, golf’s PGA Tour, and the ATP World Tour in tennis, among other
professional sports groups.
Wondering how an organization charging $2,600 for Super Bowl tickets qualifies for
tax exemptions in the first place? It’s a good question. The NFL qualifies as a
501(c)(6), a nonprofit category that includes chambers of commerce, trade
groups, real estate boards, and a handful of other sports leagues. The National
Basketball Association is a for-profit organization, and Major League Baseball
gave up its exempt status in 2007.
Never knew the NFL was a 501c charity, good for Tom Coburn but I don't suspect it went anywhere
They aren't.
Before you start comparing the NFL to the American Red Cross, it's important to know how and why the NFL is a tax-exempt organization. According to league spokesman Brian McCarthy, the NFL is organized as a trade or industry association that is exempt from taxation under Section 501(c)(6) of the Internal Revenue Code, not Section 501(c)(3), which exempts charitable organizations. In no way is the NFL claiming to be a charity.
"business leagues, chambers of commerce, real estate boards, boards of trade, or professional football leagues (whether or not administering a pension fund for football players), not organized for profit … ."
If the NFL wasnt a non profit corporation, they still wouldnt be paying taxes, since 100% of the proceeds gets passed through the league onto the teams where its then taxed.
If the NFL wasnt a non profit corporation, they still wouldnt be paying taxes, since 100% of the proceeds gets passed through the league onto the teams where its then taxed.
Perhaps not but the rule was specifically written in part for them.
Perhaps not but the rule was specifically written in part for them.
No, even your posting says otherwise
"business leagues, chambers of commerce, real estate boards, boards of trade, or professional football leagues (whether or not administering a pension fund for football players), not organized for profit … ."
A "professtional" football league is classified as a football league that pays their employees, not just the NFL.. When I owned an arena football team, it was classified as a pro team.
"business leagues, chambers of commerce, real estate boards, boards of trade, or professional football leagues (whether or not administering a pension fund for football players), not organized for profit … ."
A "professtional" football league is classified as a football league that pays their employees, not just the NFL.. When I owned an arena football team, it was classified as a pro team.
Some people simply can never admit when they were wrong. There was no arena league when this was written. It was written for the NFL.
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