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Suzanimal
01-30-2015, 06:47 PM
Two Days Before Super Bowl, The NFL’s Status As A Nonprofit Is Challenged


Two days before the 49th Super Bowl, the NFL is being challenged on its status as a tax-exempt nonprofit in Congress and the New York State Senate.
State Sen. Brad Hoylman, who represents Manhattan’s 27th District — where the NFL’s headquarters is located — presented a bill to the state Senate on Friday, asking to amend the section of the state tax law that allows the NFL to hold unique privileges as a tax-exempt corporation. Assemblywoman Deborah Glick is sponsoring a similar bill in the state Assembly.

Hoylman’s hope is that by revoking the league’s status in the state law, it will send a message to the federal government that a corporation that nets nearly $10 billion in annual revenue does not need the financial privileges afforded to other 501© nonprofits.

In Washington, Utah Rep. Jason Chaffetz has proposed a similar bill to alter the federal tax law. His bill would exclude all professional sports leagues from consideration for tax-exempt status. In addition to the NFL, the PGA Tour, NHL, and LPGA are recognized as nonprofit organizations. MLB voluntarily surrendered its tax-exempt status in 2007, and the NBA has always been a publicly for-profit organization.

Chaffetz makes his stance clear: “To say establishments like the NFL are not for profit organizations is laughable. They are a for-profit and should be taxed as such.”

There have been other recent efforts in Congress to alter the NFL’s tax-exempt status, including legislation proposed by New Jersey Sen. Cory Booker and Washington Sen. Maria Cantwell, but those bills failed to gain wide support.

Hoylman recognizes that this initiative may be a multiyear effort, but is determined to get the NFL to contribute financially to the state in which it’s headquartered.

In 1966, a clause was added to the tax code that states:

IRC 501©(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 NFL’s argument for maintaining its status has always been that the bulk of the leagues overall revenue — about $9.5 billion per year — is earned by its 32 individual franchises. However, the league collects dues from the individual teams to cover league payroll and also collects revenue, largely through television broadcast deals, and distributes that to individual teams. According to reports, Commissioner Roger Goodell earned $44.2 million in 2012, which included his $3.5 million salary and a $40 million bonus.

http://www.buzzfeed.com/lindseyadler/nfl-tax-exempt-super-bowl?bffb&utm_term=4ldqpho#.cblDvRVQqo

DamianTV
01-30-2015, 08:58 PM
Whaaaa? Foosball is a Religion and should be completey TAX EXEMPT! Just listen to Bobby Bouche's mom, Foosball is teh Debil'z Game!

Suzanimal
01-31-2015, 04:54 AM
Whaaaa? Foosball is a Religion and should be completey TAX EXEMPT! Just listen to Bobby Bouche's mom, Foosball is teh Debil'z Game!

I'm gonna start a religion cult and be tax exempt too.:D

juleswin
01-31-2015, 05:43 AM
I could be wrong, but the way I understand it, the NFL organization is non-profit corporation and the teams itself are for profit corps. So the NFL profits go to the team who then pay federal and state taxes. I read these sort of articles that give people the impression that the NFL and its teams are like churches and its diocese who do not pay taxes. What I would really like to see is states refusing to subsidize stadiums for these multimillion dollar teams. Call their bluffs when they again threaten to move if their demands are not met.

JK/SEA
01-31-2015, 12:29 PM
so Chaffetz loves taxes....as does his cohorts on the marxist side of the aisle....

the beat goes on.

enhanced_deficit
01-31-2015, 12:32 PM
NFL supported foreign invasions like hollywood and sent entertainment tours to foreign occupied zones, it should be revered fo sure.

angelatc
01-31-2015, 06:25 PM
I could be wrong, but the way I understand it, the NFL organization is non-profit corporation and the teams itself are for profit corps. So the NFL profits go to the team who then pay federal and state taxes. I read these sort of articles that give people the impression that the NFL and its teams are like churches and its diocese who do not pay taxes. What I would really like to see is states refusing to subsidize stadiums for these multimillion dollar teams. Call their bluffs when they again threaten to move if their demands are not met.

You are exactly right. As per the tax code: n
no part of the net earnings of which

inures to the benefit of any private shareholder or individual.

It is just a pass through corporation. They don't retain any earnings, nor do they incur any expenses which aren't passed along to the various teams in the leagues. It's just that the liberals can't stand the thought of any money anywhere not being taxed.

Basically it functions as a trade organization. (http://www.todayifoundout.com/index.php/2014/01/nfl-tax-exempt/)


So, the question now is if the NFL League Office is non-profit and doesn’t pay taxes, who does? The answer is the 32 teams via some clever structuring of how the NFL works behind the scenes. Revenue that comes into the NFL coffers is funneled through various branches of a for-profit company called NFL Ventures. The NFL League Office is a completely separate company and NFL Ventures is very much subject to taxation.

The NFL League Office isn’t the only professional sports league to have non-profit status. The National Hockey League (NHL), the Professional Golf Association (PGA), the Ladies’ Professional Golf Association (LPGA), and the Association of Tennis Professionals (ATP) are other leagues that have this exemption. In fact, Major League Baseball was tax-exempt until 2007. According to MLB spokesman Matt Bourne, the league gave up their status because “There was no business or other benefit for us to have the exemption, so we made the decision to relinquish it.”

So not to worry - all the money is taxed. It just isn't unfairly taxed twice, like corporate money is.

Danke
01-31-2015, 06:32 PM
Whaaaa? Foosball is a Religion and should be completey TAX EXEMPT! Just listen to Bobby Bouche's mom, Foosball is teh Debil'z Game!

Amen, brother.

Natural Citizen
01-31-2015, 06:38 PM
Meanwhile... Things you need you know about the Super Bowl that have nothing to do with football (http://rt.com/usa/228099-super-bowl-facts-need-know/)




The government is prepping a massive security presence


https://www.youtube.com/watch?x-yt-cl=85114404&v=XduQfBMf9no&x-yt-ts=1422579428

At and around the game on Sunday, more than 4,000 private security contractors will be deployed, in addition to another 3,000 Phoenix police officers. More than 100 FBI agents will be in town to perform a range of activities, from conducting online surveillance to working undercover. Department of Homeland Security officials have conducted anti-sniper training sessions, and even some Super Bowl officials were involved in “active shooter preparedness” sessions.

As if that wasn’t enough, though, US Customs and Border Protection (CBP) will have a Black Hawk helicopter patrolling the skies (http://rt.com/usa/226827-super-bowl-military-helicopters/), as well as half a fleet of F-16 fighter jets to enforce a 30-mile no-fly zone above the stadium.

Meanwhile, CBP will also bring massive, mobile X-ray machines near the stadium in order to scan for contraband and explosive devices – machines usually reserved for use at the US-Mexico border.

Citizens foot the bill for this effort – and the NFL walks away scot-free

According to NJ.com (http://www.nj.com/opinion/index.ssf/2015/01/editorial_nfl_should_pick_up_share_of_costly_super .html), estimates put the price tag for last year’s event in New Jersey at $36.9 million in taxpayer funds. That money went towards security and transportation, and it’s likely Arizona will pay a hefty price as well.



Aaaaaand the people will love them for it... :cool:

http://worldtruth.tv/wp-content/uploads/2013/03/22cfm0.jpg

samforpaul
01-31-2015, 08:24 PM
I wonder if this might lead to pink-free October games.

enhanced_deficit
02-02-2015, 12:31 PM
NFL teams owners buying politicians err donating to politicians in both parties. Controversial Ptartiots owner Robert Kraft donated to Obama, McCain, Romney in 2008.

The small group of fewer than 40 owners have given upwards of $1 million dollars combined to candidates directly, and some of the owners have been personally fundraising for the campaigns.

http://www.businessinsider.com/obama-romney-donations-nfl-contributions-woody-johnson-2012-9?op=1



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