Posted on 09/17/2014 9:42:55 AM PDT by illiac
The National Football League’s had a tough first three weeks of the season. The league made the news again Tuesday when New Jersey Sen. Cory Booker, a Democrat, introduced legislation that would put an end to the league’s tax-exempt status.
Sen. Maria Cantwell, a Democrat from Washington, also reportedly plans to introduce legislation eliminating the league’s status.
While Booker was pushed by the league’s handling of players involved with domestic violence, Cantwell is looking at the the NFL’s lack of force to get Washington to change its highly criticized name. Cantwell, also former chair of the Senate Indian Affairs Committee spoke at a press conference Tuesday, condemning “Redskins” as a derogatory term against Native Americans.
(Excerpt) Read more at blogs.marketwatch.com ...
I am not opposed to removing the tax exemption because I don’t see why the NFL should be treated any differently than any other business. That being said, this is all grandstanding for these politicians.
> You comment shows that you either do not know how the NFL is structured or that you don’t know the tax law.
Nah, my comment shows that I don’t care about either the tax law or the structuring of the businesses.
The common perception (i.e. political perception) is that they are all a bunch of gazillionaires with their hands out looking for charity. And that is the view that will determine how the politics of this proceeds.
You honestly think that would shut the politicians up? It would give them a thirst for more tyrannical power. Sooner or later, you will wind up on their $4!+ list and then it’s you who gets the full endoscopic procedure!
Too bad anaesthetic will not be covered.
Let’s look at all the free benefits that senators get, paid for you you and me.
The NFL should lose its tax exempt status for the simple reason that they are a for-profit business.
That they don’t pay tax is a first class inside scam.
I can’t understand how the NFL can be defined as a “non-profit” in the first place.
Okay.
Now please explain why any of the organizations you listed should be tax exempt.
Why? The league office doesn’t have any profit, the teams do. The NFL tax bill would be zero no matter what.
This is just more Washington hot air.
Because they are not for profit organizations?
You understand that was a Nike issue not a Jesus issue, right?
Keep telling yourself that.
That they don’t pay tax is a first class inside scam.
You drank the kool-aid.
I will because it is the truth.
Perhaps by the laws under which “non-profits” operate; but these groups are NOT true non-profit entities.
See IRS publication 557
(http://www.irs.gov/publications/p557/index.html) and also section 501(c)(6) of the tax code.
IRC 501(c)(6) provides for exemption of business leagues, chambers of commerce, real estate boards, boards of trade, and professional football leagues (whether or not administering a pension fund for football players), which are not organized for profit and no part of the net earnings of which inures to the benefit of any private shareholder or individual.
The Revenue Act of 1928 amended the statue to specifically include real estate boards. Rev. Act of 1928, ch. 852, § 103(7), 48 Stat. 700. · Most recently, in 1966, professional football leagues were added to the specifically described organizations. Act of Nov. 8, 1966, Pub. L. 89- 800, § 6(a), 80 Stat. 1515. The Act, insofar as it related to professional football leagues, had both antitrust and tax provisions. · The antitrust provision was enacted to permit the combination of the National and American Football Leagues to go forward without fear of an antitrust challenge under either the Clayton Antitrust Act or the Federal Trade Commissions Act. · The IRC 501(c)(6) amendment was enacted to ensure that a professional football league's exemption would not be jeopardized because it administered a players' pension fund. H.R. Conf. Rept. No 2308, 89th Cong., 2d Sess. (1966), reprinted in 1966-2 C.B. 958, 963, 964.
Most people INCORRECTLY assume that a non-profit can not make money or must do some kind of charity work. That is not true. A non-profit can and and in many cases, does make money. However, the money does not go to a shareholder or an individual. There are over 70,000 such organizations in the US that meet this criteria.
No, of course I don’t think it would silence the politicos. I should have left that off.
That makes zero sense. None at all.
Oh really? Please explain why the NFL should have tax exempt status.
The NFL is a not for profit organization, much like any trade organization (think Motion Picture Association of America or National Association of Realtors). These group exist to make their members more profitable but the organization itself makes no money.
The Cowboys, Packers and Giants pay big taxes because they make big profits. The NFL makes no profit and so they pay no taxes.
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