πŸ”₯ Popular | Latest

<p>Ah yes, The favorite liberal meme designed to prick at your outrage sensors and make sure you don’t ever actually pay attention to what you’re looking at.</p> <blockquote>Every dollar of income that is earned in the National Football League β€” from game tickets, television rights fees, jersey sales and national sponsorships β€” is subject to tax. None of this income is shielded in a tax-exempt entity. Instead, the NFL’s 32 clubs pay tax on all of these revenues. <p>Claims that the NFL is using a tax exemption to avoid paying the tax due on these revenues are simply misinformed. The confusion arises from the fact that there is one small part of the NFL, unrelated to all this business activity, that is tax-exempt: the NFL League Office. The league office is the administrative and organizational arm of the NFL and does things like write the rules of the game, hire referees, run the college draft, negotiate the collective bargaining agreement with the players, conduct player safety research, and run youth football programs. </p> <p>The league office acts as a trade association for the NFL clubs. In the same way that other trade associations support companies in other lines of business, it establishes rules and standard practices for its members, develops programs to help them run their operations more efficiently and profitably, and promotes the business in the broader community. Trade associations are nonprofit organizations. They don;t engage in any business activity. As a result, they are exempt from being taxed under section 501Β©(6) of the federal tax code. (Charities are exempt under section 501Β©(3); the NFL League Office has never claimed to be a charity.) </p> <p>Because the league office does not receive income from game tickets, television contracts and the like, its tax exemption does not apply to any of the profits earned in the NFL overall. All the money-making activity is conducted by the for-profit, taxable teams.</p></blockquote> <br/><p> The vast majority of the NFL&rsquo;s income has always been taxed, and what little tax-exempt status they did have they gave up in 2015.</p> <p><br/>Sources: <br/><a href="http://www.snopes.com/politics/taxes/nflexempt.asp">http://www.snopes.com/politics/taxes/nflexempt.asp</a> <br/><a href="http://www.theatlantic.com/business/archive/2015/04/why-the-nfl-decided-to-start-paying-taxes/391742/">http://www.theatlantic.com/business/archive/2015/04/why-the-nfl-decided-to-start-paying-taxes/391742/</a></p> <p><br/>But hey, don&rsquo;t let something like facts stop you from railing against &ldquo;Muh evil capitalism&rdquo;.</p>: My name is Roger Goodale, and I am the commissioner of the NFL I made $44.2 million in 2012, an exorbitant salary that regular taxpayers subsidized because the NFL is "nonprofit" and therefore tax-exempt. Please share this image if you agree that any so-called "nonprofit" that pays its top executives more than 10 times the American median wage should lose its tax- exempt status. www.DemoNews.org <p>Ah yes, The favorite liberal meme designed to prick at your outrage sensors and make sure you don’t ever actually pay attention to what you’re looking at.</p> <blockquote>Every dollar of income that is earned in the National Football League β€” from game tickets, television rights fees, jersey sales and national sponsorships β€” is subject to tax. None of this income is shielded in a tax-exempt entity. Instead, the NFL’s 32 clubs pay tax on all of these revenues. <p>Claims that the NFL is using a tax exemption to avoid paying the tax due on these revenues are simply misinformed. The confusion arises from the fact that there is one small part of the NFL, unrelated to all this business activity, that is tax-exempt: the NFL League Office. The league office is the administrative and organizational arm of the NFL and does things like write the rules of the game, hire referees, run the college draft, negotiate the collective bargaining agreement with the players, conduct player safety research, and run youth football programs. </p> <p>The league office acts as a trade association for the NFL clubs. In the same way that other trade associations support companies in other lines of business, it establishes rules and standard practices for its members, develops programs to help them run their operations more efficiently and profitably, and promotes the business in the broader community. Trade associations are nonprofit organizations. They don;t engage in any business activity. As a result, they are exempt from being taxed under section 501Β©(6) of the federal tax code. (Charities are exempt under section 501Β©(3); the NFL League Office has never claimed to be a charity.) </p> <p>Because the league office does not receive income from game tickets, television contracts and the like, its tax exemption does not apply to any of the profits earned in the NFL overall. All the money-making activity is conducted by the for-profit, taxable teams.</p></blockquote> <br/><p> The vast majority of the NFL&rsquo;s income has always been taxed, and what little tax-exempt status they did have they gave up in 2015.</p> <p><br/>Sources: <br/><a href="http://www.snopes.com/politics/taxes/nflexempt.asp">http://www.snopes.com/politics/taxes/nflexempt.asp</a> <br/><a href="http://www.theatlantic.com/business/archive/2015/04/why-the-nfl-decided-to-start-paying-taxes/391742/">http://www.theatlantic.com/business/archive/2015/04/why-the-nfl-decided-to-start-paying-taxes/391742/</a></p> <p><br/>But hey, don&rsquo;t let something like facts stop you from railing against &ldquo;Muh evil capitalism&rdquo;.</p>
Save