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subspaceseven -> Pro Sports and taxes (10/17/2012 7:34:30 AM)
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Do you think the NFL, PGA and NHL are non profit groups and thereby do not have to pay taxes?
"The National Football League (NFL), the National Hockey League (NHL), and the Professional Golfers’ Association (PGA) classify themselves as non-profit organizations to exempt themselves from federal income taxes on earnings. Smaller sports leagues, such as the National Lacrosse League, are also using the tax status. Taxpayers may be losing at least $91 million subsidizing these tax loopholes for professional sports leagues that generate billions of dollars annually in profits. Taxpayers should not be asked to subsidize sports organizations already benefiting widely from willing fans and turning a profit, while claiming to be non-profit organizations."
full article http://thinkprogress.org/economy/2012/10/16/1023441/gop-senator-pro-sports-non-profit/
I do not think they should be a tax exempt org. They clearly make millions in profits and really does the NFL need to be promoted as it is stated as to why they are a tax exempt group.
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