The RetrieverTraining.Net Forums The Retriever Academy
Total Retriever Training with Mike Lardy
Hawkeye Media Gunners Up Tritronics Outdoor Media

View Poll Results: Should the NFL keep its tax exempt status?

Voters
27. You may not vote on this poll
  • Yes, the NFL keep its tax exemption!

    4 14.81%
  • No, the NFL should not be tax exempt!

    23 85.19%
Page 1 of 5 123 ... LastLast
Results 1 to 10 of 46

Thread: Should the NFL have a non profit tax exemption?

  1. #1
    Senior Member zeus3925's Avatar
    Join Date
    Mar 2008
    Location
    West Twin Cities Metro, MN
    Posts
    2,058

    Default Should the NFL have a non profit tax exemption?

    Quote from Forbes --Jan 30, 2014
    The National Football League takes in more than $9.5 billion per year and is exempt from Federal taxes. As a nonprofit, it earns more than the Y, the Red Cross, Goodwill, the Salvation Army or Catholic Charities – yet it stands as one of the greatest profit-generating commercial advertising, entertainment and media enterprises ever created.

    An arcane tax code change that eased the 1966 merger of the NFL with the old American Football League landed the new combined entity in section 501(c)6 of the tax code, designated as an industry association. The designation actually covers “chambers of commerce, real estate boards, boards of trade, and professional football leagues.” This does not cover the league’s 32 individual franchises, which also rake in billions.

    The National Football League makes $9.5 Billion in profits. This figure is for the League alone exclusive of the profits earned by individual franchises. The NFL pays no taxes as it enjoys tax exempt status as a non profit organization. It enjoys this status as a result of an obscure 1966 law that declares professional football leagues non profit tax exempt status. What do you think?
    Zeus

    I don't want to feed an ugly dog!

  2. #2
    Senior Member
    Join Date
    Mar 2011
    Location
    SW Minnesota
    Posts
    2,005

    Default

    No they should not, tax exempt status should be completely eliminated as well as tax write offs for donations. ESPN ran an segment last month on the PGA tour involvement.
    http://espn.go.com/espn/otl/story/_/...stry-standards

  3. #3
    Senior Member BonMallari's Avatar
    Join Date
    Feb 2008
    Location
    LV/CenTex/Idaho
    Posts
    12,450

    Default

    if you take the NFL's tax exempt status then you have to do the same to MLB, and every other sports entity that has the same status...all for it
    All my Exes live in Texas

    Quote Originally Posted by lanse brown View Post
    A few things that I learned still ring true. "Lanse when you get a gift, say thank you and walk away. When you get a screwing walk away. You are going to get a lot more screwings than gifts"

  4. #4
    Senior Member
    Join Date
    Apr 2011
    Posts
    530

    Default

    No exemptions for any of them. Hell my Field Trial club has to pay yearly property taxes on 110 acres plus just like the rest of us , no matter the social benefit to the community (water runoff..etc).

  5. #5
    Senior Member huntinman's Avatar
    Join Date
    May 2009
    Location
    Tennessee
    Posts
    6,760

    Default

    Yes, they pay taxes on the money as it is shared with the clubs. They bring money to the cities they play in. Quit being envious of those who make money.
    Bill Davis

  6. #6
    Senior Member JDogger's Avatar
    Join Date
    Feb 2003
    Location
    MRGV New Mexico
    Posts
    3,288

    Default

    Quote Originally Posted by huntinman View Post
    Yes, they pay taxes on the money as it is shared with the clubs. They bring money to the cities they play in. Quit being envious of those who make money.
    Ever get tired of being on the wrong side Bill?

    i think tax exempt status should be disallowed, period. If you're in business and you make money, pay your tax.
    Last edited by JDogger; 02-01-2014 at 07:46 PM.
    One cannot reason someone out of something they were not reasoned into. - Jonathan Swift

  7. #7
    Senior Member
    Join Date
    Apr 2004
    Location
    Detroit Lakes, MN
    Posts
    1,433

    Default

    The NFL spontaneously generates money once you build the team a stadium.

    http://www.theatlantic.com/magazine/...payers/309448/

  8. #8
    Senior Member huntinman's Avatar
    Join Date
    May 2009
    Location
    Tennessee
    Posts
    6,760

    Default

    Quote Originally Posted by JDogger View Post
    Ever get tired of being on the wrong side Bill?

    i think tax exempt status should be disallowed, period. If you're in business and you make money, pay your tax.

    Read this and educate yourself a little before shooting off your mouth about something you know nothing about.

    NFL Tax Exempt Status Means They Pay More Taxes
    JAMES JOYNER · SUNDAY, JUNE 2, 2013 · 6 COMMENTS

    The NFL is a tax-exempt organization. No, it isn’t a non-profit. Yes, it pays massive amounts of taxes–more than it would if it weren’t tax exempt.
    While Major League Baseball’s fabled exemption from anti-trust laws is well known, most people likely didn’t realize the National Football League was tax-exempt until Senator Tom Coburn (R, OK) called for reviewing it a couple weeks back. It turns out that the National Hockey League (NHL) and Professional Golf Association (PGA) has the same status. According to one estimate, stripping all these exemptions could bring in $109 million in tax revenue over the next ten years (which is to say, essentially nothing).
    But Forbes’ Peter J. Reilly explains that the filing status is likely costing the NFL more that it saves. He looks at the League’s Form 990 for clues.
    From the Form 990 we learn that the NFL has just over a quarter billion in revenue. Does that strike you as kind of low ? What with all those TV advertisements and everything. The thing is that money does not belong to the NFL. The bulk of the NFL’s revenue is membership dues. It also collects about half a million in fines and penalties and has slightly less than $200,000 in investment income. There are some people making good money working for the NFL. President Roger Goodell had reportable compensation of nearly thirty million. The really big money is not with the NFL. Rather it is with the 32 teams that constitute its members.
    [...]

    Despite football’s quasi-religious status, the NFL is not exempt under 501(c)(3). It is exempt under 501(c)(6) which is defined as:
    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 and no part of the net earnings of which inures to the benefit of any private shareholder or individual.
    Another example of a 501(c)(6) organization is the American Institute of Certified Public Accountants. Not as good a deal being the President of the AICPA, Barry Melancon had to get by on just $1,634,068. Essentially 501(c)(6) organizations are not charities, because their members are trying to make money. The members, though, are trying to make money for themselves. They don’t really have an interest in having the 501(c)(6) make money. That is why it is not-for profit even though it is not a charity.
    The bottom line?
    The NFL had expenses in excess of revenue of $77,628,857 for the year ended 3/31/2012 and $52,195,407 for the prior year. Apparently, that is nothing new. The liabilities of the NFL exceeded its assets by $316,642,454 at 3/31/2012. Superficially, my reasoning would be that if the NFL was organized as an LLC, instead of as an exempt organization, the member teams would have had nearly a third of a billion more in deductions since inception. I’m sure it is more complicated than that, but I suspect that the motivation for the way it operaties may be to keep liabilities off the balance sheets of the member organizations. It appears to me that if there is a game there, it is a GAAP (generally accepted accounting principles) game, not a tax game.
    Superficially, it appears that, if the NFL were not an exempt organization, it would not owe federal income taxes, because it has not been making money. If you view the NFL in conjunctions with its member teams, it appears that it has the effect of increasing aggregate taxable income.
    The problem is that people are confusing the business entity of the NFL with the massive business entity we think of as “the NFL.” The latter makes an enormous amount of money; it just accrues to the 32 member teams and their owners, not the League.
    Bill Davis

  9. #9
    Senior Member Henlee's Avatar
    Join Date
    Feb 2013
    Posts
    806

    Default

    I think I agree with Bill. As I understand it the NFL is just an organizing body that schedules the games, creates and enforces rules and handles league business without generating revenue itself. If I am wrong on that I might reconsider, but that is my understanding. The teams which are more or less handled as separate businesses generate the revenues and ought to be taxed as such. On the surface I don't see a need to change it.
    During break time at obedience school, two dogs were talking.
    One said to the other..."The thing I hate about obedience school is you learn ALL this stuff you will never use in the real world."

  10. #10
    Senior Member JDogger's Avatar
    Join Date
    Feb 2003
    Location
    MRGV New Mexico
    Posts
    3,288

    Default

    Quote Originally Posted by huntinman View Post
    Read this and educate yourself a little before shooting off your mouth about something you know nothing about. .
    Chill, Bill. I wasn't singling out the NFL. I don't believe there should be any tax exemptions. You play, you pay.
    One cannot reason someone out of something they were not reasoned into. - Jonathan Swift

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •