- Joined
- Aug 15, 2010
- Messages
- 7,182
- Name
- Hugh
well, they don't have to pay taxes... they r exempt.I read something about that a couple months back...I can't remember the details exactly but I remember it not being quite what you think upon first hearing it.
Yeah but like I said ( and I really can't remember, so I'm probably speaking out of turn), there was something about it that made sense...something like the "NFL" isn't paying taxes but each individual team is...or something like that.well, they don't have to pay taxes... they r exempt.
well, they don't have to pay taxes... they r exempt.
Profits! What profits? We ain't got no stinkin' profits.What's wrong with that? If the profits all get taxed at team level taxing the league would be double taxing.
That's right the "profits" are passed through to the thirty two teams where they get taxed,S corps do the same thing the "profits" are taxed as income of the owners.Profits! What profits? We ain't got no stinkin' profits.
do u really think americans understand that this is how the IRS nonprofit tax waiver is being used? in effect, nfl hq is a huge marketing lobbying entity that benefits all of the owners, and this separate entity is untaxed for revenue it generates. an s-corp was a way for partnerships to achieve liability protection at the same tax structure. this is wholesale skirting of taxes by organizing as a sporting organization. somehow, i dont thing it was intended for $10B+ entities.That's right the "profits" are passed through to the thirty two teams where they get taxed,S corps do the same thing the "profits" are taxed as income of the owners.
I think most Americans don't understand the first thing about taxes otherwise they would vote far differently than they do.do u really think americans understand that this is how the IRS nonprofit tax waiver is being used? in effect, nfl hq is a huge marketing lobbying entity that benefits all of the owners, and this separate entity is untaxed for revenue it generates. an s-corp was a way for partnerships to achieve liability protection at the same tax structure. this is wholesale skirting of taxes by organizing as a sporting organization. somehow, i dont thing it was intended for $10B+ entities.
hey, the irs should go away, but if we're going to have to have them, then at least show some level of fairness.
Okay, I renege on my early promise to make that my last post because I am left to defend myself and my position here.I think most Americans don't understand the first thing about taxes otherwise they would vote far differently than they do.
I can't make you understand that taxing the revenue at one level is fair,taxing it twice would be unfair but I do understand from months of conversing with you that you consistently view the league and it's leadership as an evil $10B+entity .
ALL the after expense revenue gets taxed,who pays the tax ? the teams do,no skirting is occurring at all and FWIW you are exhibiting a lack of understanding of taxes and tax law that makes this whole discussion more about attitude than certitude.
The NFL is NOT a separate entity it's a collection of partners who share the revenue equally and are taxed on it,BTW they don't pay taxes on what they pay the players either ,the players do.
You are correct ,nothing unfair all teams pay taxes in the state in which they are domicile, I am sure Roger Goodell pays New York state taxes as do all the employees domicile there,but if New Yawk don't like it I'm sure the league can move to Fla or Tex states with no state income tax. Coburns logic is flawed beyond belief,if the league were taxed at the top marginal rate 39.6% and then the teams were as well,that would be around 70% of the revenue going to the Federal government,might as well just nationalize it and get it over with cuz the ROI wouldn't be there to make anyone want to own.Here is a good article on the matter. http://espn.go.com/nfl/story/_/id/9342479/examining-nfl-tax-exempt-status-challenged-us-senator-tom-coburn
It seems evident to me that any of the for profit entities the NFL has (NFL Network, etc.) are taxed as a separate entity through the corporation NFL Ventures.
Each team is taxed federally and in the state in which they do business.
I don't see anything unfair being done here. Every dollar earned is being taxed...every dollar spent is being taxed.