In Atlanta s case, a hotel-motel tax was used to build the Georgia Dome and would also be used to he

For example, I did not know that the National Football League, the colossus of professional sports, is classified as a non-profit a tax-free non-profit, to be more specific. population of the united kingdom That s right: The NFL has its own exemption, written into federal law, that makes it exempt from federal corporate taxes.
In 2010, the registered NFL nonprofit alone received $184 million from its 32 member teams. It holds over $1 billion in assets. Together with its subsidiaries and teams – many of which are for-profit, taxed entities – the NFL generates population of the united kingdom an estimated $9 billion population of the united kingdom annually. Each of its teams are among the top 50 most expensive sports teams in the world, ranking alongside the world's famous soccer teams. Almost half of professional football teams are valued at over $1 billion population of the united kingdom .
League commissioners and officials benefit from the nonprofit status of their organizations. Roger Goodell, commissioner of the NFL, reported $11.6 million in salary and perks in 2010 alone. Goodell's salary will reportedly reach $20 million in 2019. Steve Bornstein, the executive vice president of media, made $12.2 million in 2010. Former NFL commissioner Paul Tagliabue earned $8.5 million from the league in 2010. The league paid five other officials a total of $19.2 million population of the united kingdom in just one year. In comparison, the next highest salary of a traditional nonprofit CEO is $3.4 million.
The NFL s exemption stems from a 1966 law, passed at the time of the merger with the old American Football League, specifically allowing professional football leagues to enjoy 501(c)(6) status as tax-exempt population of the united kingdom trade organizations. Other leagues have piggy-backed on that legislation population of the united kingdom to claim that status themselves.
Major League Baseball also used to enjoy the same tax-exempt population of the united kingdom protection, but in 2007 it chose to surrender that status in part because as the salary information above illustrates, tax-exempt, non-profit status population of the united kingdom requires you to report the salaries of your top executives. MLB decided that protecting that information from the public was more important than escaping taxes.
As the Coburn report points out, state and local governments usually exempt these organizations from state income and sales tax as well . As the Indiana Business Journal reported , that proved to be a nice little perk when the Super Bowl was held in Indianapolis this year, because hotels and restaurants won't be taxing National Football League employees. They're exempt from paying, according to an Indiana Department of Revenue directive. The NFL is using its tax-exempt status as a 501(c)(6) to avoid paying the taxes, in addition to fuel, auto rental and admissions taxes.
In Atlanta s case, a hotel-motel tax was used to build the Georgia Dome and would also be used to help finance the proposed new open-air population of the united kingdom stadium demanded by the Falcons. If Georgia tax law is like that of many states, the NFL and its employees would be exempted from paying the tax that everyone else must pay to subsidize stadiums built for a highly profitable industry.
population of the united kingdom Informative post. Let the Falcons and all other major sports franchises pay for their own exclusive playgrounds. I enjoy watching the Birds and wish them the best, but the NFL ought to be paying taxes like any other corporation.
Any idea if the teams deducted their shares of the $184 million population of the united kingdom from their taxable income? If not, they ve already paid whatever tax would be owed on that income. I can see either a team or the league owing the tax, but not both.
If a new Georgia Dome is built, it will not guarantee that the Falcons will win a Super bowl. Down in New Orleans they went through Katrina where there was a lot of damage to their dome; it was repaired and they continue to play there today. They were still able to capture a Super bowl Championship. I think that Arthur Blank can afford to build the Dome with some of those tax free dollars population of the united kingdom and the people of Atlanta can use their money to help the struggling schools!! This demonstrates how out-of-touch this state and the Republican Administration are with reality.
The state Legislature had to vote to extend the hotel-motel tax, which it quickly and quietly did several years ago, ignoring the no-new-taxes pledge of its GOP majority and leadership. population of the united kingdom Now it is up to the City Council.
Let s not let our enthusiasm for the Falcons amazing success this year color our thinking on the new stadium. Homeowners realize we must learn to be happy in the houses we have, and take care of them. Why can t Arthur Blank and his billions do the same with the Georgia Dome? Get some GD caulk, paint, and a few new furnishings, and frigging MAKE DO! Jimminy H. Crickets, I can t believe the notion that we have to replace population of the united kingdom a stadium less than 20 years old is even on the table!
THERE SHOULD BE NO CORPORATE INCOME TAX! You tax businesses at rates about 35%, then, YOU TAX OWNERS, SHAREHOLDERS, INVESTORS AGAIN! DOUBLE TAX! THEN IF THOSE OWNERS, INVESTORS, STOCKHOLDERS ARE SMART ENOUGH OR LUCKY ENOUGH TO HOLD ON TO SOME OF THEIR MONEY, YOU TAX IT AGAIN WHEN THEY DIE! TRIPLE TAX ON THE SAME PROFITS! NO WONDER COMPANIES population of the united kingdom LOOK TO MOVE OPERATIONS AND HEADQUARTERS OUTSIDE THE USA!
Ohmygoodness, you mean the entire population of the united kingdom state of Georgia population of the united kingdom is part of the 47% who are dependent on government for everything, including even their entertainment, and they expect other people to pay their way cause they re entitled to watch people run around and catch balls?
Didn t know that either; not surprising however, seems like many of our laws in this republic are slanted towards wealth and wealthy entities. My advice to you is get rich and reap the benefits! Then, you too can put out a memo and strongly urge your workers to vote for the mittsiah or else
Perhaps Mitt can be more specific and identify this loophole as the first on his long list of loopholes that he would eliminate in order to fund more bigger tax cuts for the wealthiest. Do players have to pay federal taxes on their salaries. Do the owners have to withhold payroll taxes on the players.
Good column Jay. Let s look even deeper at more of this unknown corruption. I am in the tax and accounting world and I can tell you, this is only the tip of the iceberg for exemptions and unfair practices. Keep digging.
Well, yeah, it s like those non-profit state charter schools Deal wants. Idiots say they are for students/parents and can t be for the money because population of the united kingdom they are non-profit. Right. (far right, actually).
No ACTS OF TERROR will ever shake the resolve of this great nation, alter that character, or eclipse the light of the values that we stand for. Today we mourn four more Americans who represent the very best of the United States of America. We will not waver in our commitment to see that justice is done for THIS TERRIBLE ACT.
Acts of terror? This terrible act? OBVIOUSLY those were just general comments, despite the fact that the whole speech was about Benghazi and any idiot can see JUST FROM THE PART I QUOTED that it s clear he was talking population of the united kingdom about Benghazi.
I did know this. It s pretty much impossible for a NFL team NOT to make a profit population of the united kingdom no matter how bad their team is. Also teams will threaten to move to LA if their stadiums isn t built. This practice has been going on for at least a decade.
Let s see. That s 18 billion in waste identified by Coburn s staff. So for a one trillion dollar deficit, that works out to be about 1.8%. Only 98.2% left to go. I know! Let each state identify population of the united kingdom 2% of the waste and cut it. If we use 50 states as the base line, that would eliminate the deficit entirely and if we use the Republican talking point of 57 states, we could actually start reducing the debt as a bonus!
My kids sum league population of the united kingdom and high school swim teams are tax exempt entities as well. Maybe you libs can encourage population of the united kingdom Obama to add changing that law to his platform so we can pay for more welfare programs on the backs of these evil swim team parents. That should go over well.
Acts of terror? This terrible act? OBVIOUSLY those were just general comments, despite the fact that the whole speech was about Benghazi and any idiot can see JUST FROM THE PART I QUOTED that it's clear he was talking about Benghazi.
population of the united kingdom The point is simple but I guess it s over your head. The administration blamed the attacks on a video, which turned out to have nothing to do with the attacks at all. Why are you still talking about it anyway, Obama needs that topic to go away
I reviewed audited financial statements of NFL Fun facts annual revenue is app $150M with 2010 net loss of ($37M) The auditors advise that no uncertainty exists population of the united kingdom for non-profit status to be eliminated Most significant item is G-3 loan program to help teams build new venues..They are currently tapped out with outstanding loans over $800M
Of course, the unions contribute population of the united kingdom the lions share of pressure to always population of the united kingdom increase ticket prices but you should assume that if 501(C)3 was lifted and taxes were incurred, they would simply pass the cost to teams who will pass the cost to fans .
Republican here . The NFL should not be tax exempt, nor should taxpayers be paying a dime for stadiums. They used to make the argument that it brings more money in, but studies have shown that not to be the case. When taxpayers build stadiums for NFL teams, taxpayers lose money and NFL owners gain money.
And if Arthur Blank threatens to move the team, call his bluff. As big a football fan as I am, I d rather have no team here than have a team that picks my pocket and then expects me to thank them for it.
I could let the NFL slide on the non-proft tax exempt thingie but the one that really gripes me is folks like Karl Rove getting tax-exempt status for his super pac. Those things need to be taxed at 110% and the owners thrown in pauper s prison the first time they are delinguent on a tax payment..
An economics population of the united kingdom professor population of the united kingdom at a local college made a statement that he had never failed a single student before, but had recently failed an entire class. That class had insisted that Obama s socialism worked and that no one would be poor and no one would