General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsPLEASE phone your congressfolk, TELL them to kill the NFL's NonProfit tax status!!
The NFL is a multibillion dollar property... To still have Nonprofit status with the IRS is ridiculous. Let them pay taxes. Frame it as a way to help reduce the deficit without gutting public services.
Sissyk
(12,665 posts)All 32 teams pay taxes on all sales and income. All players pay taxes. The only entity exempt from paying taxes is the League Office, the Office that writes the rules, hires the refs, and pushes safety issues.
ProdigalJunkMail
(12,017 posts)Brickbat
(19,339 posts)peacebird
(14,195 posts)It's a scandal that I can't understand why people aren't marching in the streets over, I suppose. The headquarters of the National Football League is chartered as a nonprofit and treated by the IRS as a nonprofit due to a few key words that were slipped into a piece of legislation 50 years ago. The individual teams probably pay corporate income taxes, but we don't know since most of them don't disclose any figures. Most of them receive public subsidies but don't disclose anything. The top of the NFL Roger Goodell, the commissioner his $30-million-a-year paycheck comes from what looks on paper to be a tax-exempt philanthropy.
... Judith Grant Long, a researcher at Harvard, calculates that 70 percent of the cost of NFL stadia has been paid for by taxpayers. In general, the public subsidizes pro football to the tune of around $1 billion a year, is what I calculated in my book. And yet it's phenomenally profitable subsidized up one side, down the other, and yet a very profitable business.
http://www.npr.org/2013/09/24/225775287/nfls-a-nonprofit-author-says-its-time-for-football-reform
Sissyk
(12,665 posts)not taxable. They do not receive income from any type of sale. If I'm not mistaken, the IRS audited them (The Trade Organization) and found they were completely in compliance. They (IRS) stated that since ALL NFL Teams paid taxes on all sales and income, and that the Trade Organization did not receive any of it, they were fully in compliance.
The Tennessee Titans brings in more jobs than any other industry in our state, I'd guess. So, No. I won't be calling my Congressmen or Senaors to stop that.
peacebird
(14,195 posts)Tennessee won a top ranking for capital investment and new jobs generated through company expansions and relocations, besting rival Texas and reclaiming a distinction it has not held since 2009.
The state attracted $3.2 billion in capital investment and attracted 6,900 new jobs from its five largest new projects, garnering the 2013 State of the Year honor from economic development magazine Business Facilities. The ranking was based on the states top projects in investment and job creation in the 13 months through October, which included Hankook Tire Co.s new plant in Clarksville and Aramarks new $20 million Nashville facility.
Tennessee Economic Community and Development Commissioner Bill Hagerty attributed the number of projects to aggressive outreach among staff members, a favorable tax climate, as well as the states central location, which makes it increasingly attractive, especially amid rising gas costs. He expects to see similar project flow in 2014, he said.
We are very fortunate to be in a very central location with a great physical infrastructure, he said. You should expect to see another year like 2013 in 2014 in terms of projects we work on and the type of job creation.
Utah, Texas, Louisiana, Georgia and Pennsylvania were runners-up for the State of the Year title, according to Business Facilities. Tennessee and Texas have both won the top position twice since the ranking was created in 2007, with Texas receiving the honor last year. Tennessee garnered the title in 2009, under Gov. Phil Bredesen, when Chattanooga landed Volkswagens North American assembly facility.
Sissyk
(12,665 posts)Thanks! I'm for all new jobs in our state.
When I said that, I was really referring to "all" the jobs the Team creates from concession to valet to vendors to apparel to hotels to taxi service etc. It probably is in the thousands and our state doesn't want to lose them, especially since the Titans pays it's taxes.
IIRC the NFL corporate entity actually made a loss, so they would not pay taxes anyway. It's just a small thing, virtually all of the revenue generating transactions happen at team level.
peacebird
(14,195 posts)LittleBlue
(10,362 posts)And the NFL can deduct it as an expense because he pays income tax.