NFL Gives Up Tax Exempt Status

[Panthro]

 

 

For decades, the league — not the teams themselves who pay taxes — which makes an estimated $10 billion in annual revenue has avoided paying Uncle Sam because of a line of code that allowed them to do so. Section 501©(6) of the Internal Revenue Code says that "professional football leagues" are free to be exempt, which was a way that helped allow the NFL and old American Football League, its one-time rival, join forced into the monster it now is, back in 1966.

 

http://sports.yahoo.com/blogs/nfl-shutdown-corner/report--nfl-to-give-up-tax-exempt-status-amid-congressional-pressure-172126574.html

[Donald LaFell]

Wow

[Panthro]

Look over there!

[Luke Cage]

I never thought I would see the day. Holy poo. Why? People don't just give up money for no good reason.

[top dawg]

Boy, when those earning reports come out...there is going to be some hell to pay.  I predict that it will have some repercussions in regards to the CBA as well. 

 

I wonder if Jerry Richardson will be so quick to pull out graphs and pie charts.

[Panthro]

Boy, when those earning reports come out...there is going to be some hell to pay.  I predict that it will have some repercussions in regards to the CBA as well. 

 

I wonder if Jerry Richardson will be so quick to pull out graphs and pie charts.

Oh for pekes sake they aren't going public

[Kurb]

Look over there!

 

 

I look forward to Goodell telling players they are making to much when his and the fatcats in the NFL offices have their salaries plastered all over Deadspin.

[Cary Kollins]

Oh yea because the government needs more money!

 

thanks obama

[Kurb]

Oh for pekes sake they aren't going public

 

From your link:

 

 

 

We also will find out, per this new designation, exactly what Goodell and other key NFL executives make to the penny per year, given that it's now public record. So it might be a positive PR move to give up the status willingly, but we suspect the sympathy only will go so far when it's revealed exactly what these big cats take home in pay.

[PandaPancake]

Shouldn't their tax records be available as a 501c3?

[top dawg]

Oh for pekes sake they aren't going public

 

 

It will be interesting to see what the NFL owners' henchman poster child makes.  Somebody will have something to say about it, I guarantee it.

[csx]

I look forward to Goodell telling players they are making to much when his and the fatcats in the NFL offices have their salaries plastered all over Deadspin.

Isn't his salary released every year already?

[MV%doe]

Not buying this. At all.

[csx]

It will be interesting to see what the NFL owners' henchman poster child makes. Somebody will have something to say about it, I guarantee it.

If you are interested then do a search for it. It's known because it's a non profit.