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Should the nfl be tax exempt?
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<blockquote data-quote="HardRightEdge" data-source="post: 495511"><p>This article has a deceptive spin to it. It raises more questions than it answers.</p><p> </p><p>1. "It may seem absurd that a collection of teams that generated at least $9 billion in revenue last season would be given tax-exempt status...."</p><p> </p><p>2. "Virtually all of the leagues $192.3 million in revenue in 2009 came from 'membership dues & assessment.'"</p><p> </p><p>3. "I don't intend to mislead -- <strong>some taxes</strong> certainly get paid here. The teams are considered for-profit and pay regular taxes."</p><p> </p><p>The tax exempt status applies to the league ("league office"), not the teams. The Packer franchise, which is unique in being not-for-profit, is<strong> not</strong> tax exempt...the writer conflates the two statuses in his first sentence, which is neither here nor there, but might be confusing to a Packer fan. The Packers pay income taxes like any other team.</p><p> </p><p>According to this piece, the amount of overall revenue attributable to the league office ($192.3 million) is approximately 2% of the overall $9 billion total. As for quote 3. above, it is safe to say that more than "some taxes" get paid.</p><p> </p><p>Most importantly, this article begs the question of what the total taxable income of the teams would look like if all profit or loss at the league office level was distributed back to the teams. Since the league office operated at a loss last year (and the year before according to the tax return linked in the article), would it not stand to reason that distributing the loss back to the teams would actually decrease their tax liability?</p><p> </p><p>The next question is whether the league office functions like an off-balance sheet entity for the teams where tax-exempt profits are stashed on the league office books. Actually, it's the opposite. League office liabilities exceed assets.</p><p> </p><p>There appear to be complexities in this arrangement to which the article does not do justice.</p></blockquote><p></p>
[QUOTE="HardRightEdge, post: 495511"] This article has a deceptive spin to it. It raises more questions than it answers. 1. "It may seem absurd that a collection of teams that generated at least $9 billion in revenue last season would be given tax-exempt status...." 2. "Virtually all of the leagues $192.3 million in revenue in 2009 came from 'membership dues & assessment.'" 3. "I don't intend to mislead -- [B]some taxes[/B] certainly get paid here. The teams are considered for-profit and pay regular taxes." The tax exempt status applies to the league ("league office"), not the teams. The Packer franchise, which is unique in being not-for-profit, is[B] not[/B] tax exempt...the writer conflates the two statuses in his first sentence, which is neither here nor there, but might be confusing to a Packer fan. The Packers pay income taxes like any other team. According to this piece, the amount of overall revenue attributable to the league office ($192.3 million) is approximately 2% of the overall $9 billion total. As for quote 3. above, it is safe to say that more than "some taxes" get paid. Most importantly, this article begs the question of what the total taxable income of the teams would look like if all profit or loss at the league office level was distributed back to the teams. Since the league office operated at a loss last year (and the year before according to the tax return linked in the article), would it not stand to reason that distributing the loss back to the teams would actually decrease their tax liability? The next question is whether the league office functions like an off-balance sheet entity for the teams where tax-exempt profits are stashed on the league office books. Actually, it's the opposite. League office liabilities exceed assets. There appear to be complexities in this arrangement to which the article does not do justice. [/QUOTE]
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