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  1. #13
    Join Date
    Aug 2007
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    Houston, TX Y'all
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    21,003

    Re: NFL doesn't pay taxes??



    Quote Originally Posted by pslholder96 View Post
    Excellent post. Thanks for educating.
    All beter now?
    WARNING: This post may contain material offensive to those who lack wit, humor, common sense and/or supporting factual or anecdotal evidence. All statements and assertions contained herein may be subject to literary devices not limited to: irony, metaphor, allusion and dripping sarcasm.




  2. #14

    Re: NFL doesn't pay taxes??

    Quote Originally Posted by HoustonRaven View Post
    All beter now?
    All is well




  3. #15

    Re: NFL doesn't pay taxes??

    The fact that Goodell makes $30M per year to screw up the game is the scary part.




  4. #16
    Join Date
    Aug 2007
    Location
    Houston, TX Y'all
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    21,003

    Re: NFL doesn't pay taxes??

    Quote Originally Posted by Ravcolt View Post
    The fact that Goodell makes $30M per year to screw up the game is the scary part.
    Done far more good than bad, IMO.

    Well deserved.
    WARNING: This post may contain material offensive to those who lack wit, humor, common sense and/or supporting factual or anecdotal evidence. All statements and assertions contained herein may be subject to literary devices not limited to: irony, metaphor, allusion and dripping sarcasm.




  5. #17

    Re: NFL doesn't pay taxes??

    The NFL is simply a trade association. The only money the NFL makes are membership dues from the 32 teams, income from it's investments and fines. I don't have current numbers, but in 2010 this amounted to:

    Membership dues: $183,789,138
    Investment income: $270,439
    Fines: $ 240,000

    BTW...the NFL lost $42mil in 2009 and $52mil in 2010.




  6. #18
    Join Date
    Aug 2009
    Location
    Wilton, CT
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    11,854
    Blog Entries
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    Re: NFL doesn't pay taxes??

    Quote Originally Posted by Loyola View Post
    When you are talking about SALARY you are talking about ORDINARY INCOME. Other than giving it away to charity there is not really an easy way to shelter a SALARY of $30M.

    If he had a $100 Million mortgage at 6% interest he could deduct $6M from the $30M. Even if he could SHELTER 90% of his SALARY he would still be in the 40% Federal Income tax bracket.

    So yes I do believe that he is paying the top bracket rate (about 40%) on his adjusted gross income.


    The fact that we know about it means the IRS knows about it. Not so easy to hide income that sitting out in the open
    He Who Dares.....Wins




  7. #19

    Re: NFL doesn't pay taxes??

    Quote Originally Posted by Money227 View Post
    I don't have current numbers, but in 2010 this amounted to:

    Membership dues: $183,789,138
    Investment income: $270,439
    Fines: $ 240,000
    Only $240k in fines? I think a decimal point's been moved. Or is that just team fines, not player fines?
    I've upped my standards. Up yours.




  8. #20

    Re: NFL doesn't pay taxes??

    Quote Originally Posted by moose10101 View Post
    Only $240k in fines? I think a decimal point's been moved. Or is that just team fines, not player fines?
    I actually just looked up their 2011 return (which is actually through March 31, 2012 which is their year end) and it's listed as "coach/club fines" (which were $584,500).




  9. #21
    Join Date
    Aug 2007
    Location
    Houston, TX Y'all
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    21,003

    Re: NFL doesn't pay taxes??

    Quote Originally Posted by Money227 View Post
    The NFL is simply a trade association. The only money the NFL makes are membership dues from the 32 teams, income from it's investments and fines. I don't have current numbers, but in 2010 this amounted to:

    Membership dues: $183,789,138
    Investment income: $270,439
    Fines: $ 240,000

    BTW...the NFL lost $42mil in 2009 and $52mil in 2010.
    They get TV revenue.

    They do NOT invest. That would violate their 501(c)(6) tax exempt status.

    Fines are donated to charity and not considered income.
    WARNING: This post may contain material offensive to those who lack wit, humor, common sense and/or supporting factual or anecdotal evidence. All statements and assertions contained herein may be subject to literary devices not limited to: irony, metaphor, allusion and dripping sarcasm.




  10. #22

    Re: NFL doesn't pay taxes??

    No criticism aimed at the OP or anyone else here, but this is an example of being gullible to media slanted pot-stirring and ignorance by many Americans of our (onerous) system of taxation. Of the $9 billion annual revenue which funds the NFL (league offices, teams, players salaries combined) I would be surprised if half or more is already confiscated by the taxman - Federal, State, local. Tax the league offices as well? Guess what: the taxes on the league offices would, in turn, be passed on to the teams who would, in turn, raise ticket prices again.

    Also: fact-twisting by the media about Exxon's taxes. The owners of Exxon (likely you and me, your parents, grandparents and/or friends own its stock directly or via investment portfolios) are subject to double taxation: Exxon's corporate taxes, and your personal income taxes on Exxon dividends.

    The author of the petition should be sent back to junior high school social studies classes.
    In a 2003 BBC poll that asked Brits to name the "Greatest American Ever", Mr. T came in fourth, behind ML King (3rd), Abe Lincoln (2nd) and Homer Simpson (1st).




  11. #23

    Re: NFL doesn't pay taxes??

    Quote Originally Posted by HoustonRaven View Post
    They get TV revenue.

    They do NOT invest. That would violate their 501(c)(6) tax exempt status.

    Fines are donated to charity and not considered income.
    1. No, they don't get TV revenue.

    2. Their "investment" revenue is mostly interest. 501(c)(6) organizations can absolutely place their money in investments. They just need to be primarily supported by membership dues and other revenue related to its exempt purpose (which the NFL obviously is).

    3. Player fines are donated to charity. Coach/club fines are reported as revenue.




  12. #24
    Join Date
    Sep 2009
    Location
    Clayton,NC
    Posts
    7,092

    Re: NFL doesn't pay taxes??

    Quote Originally Posted by Mista T View Post
    No criticism aimed at the OP or anyone else here, but this is an example of being gullible to media slanted pot-stirring and ignorance by many Americans of our (onerous) system of taxation. Of the $9 billion annual revenue which funds the NFL (league offices, teams, players salaries combined) I would be surprised if half or more is already confiscated by the taxman - Federal, State, local. Tax the league offices as well? Guess what: the taxes on the league offices would, in turn, be passed on to the teams who would, in turn, raise ticket prices again.

    Also: fact-twisting by the media about Exxon's taxes. The owners of Exxon (likely you and me, your parents, grandparents and/or friends own its stock directly or via investment portfolios) are subject to double taxation: Exxon's corporate taxes, and your personal income taxes on Exxon dividends.

    The author of the petition should be sent back to junior high school social studies classes.
    We are all born ignorant, but one must work hard to remain stupid. - Benjamin Franklin




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