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  1. #25
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    Re: NFL doesn't pay taxes??



    Quote Originally Posted by Money227 View Post
    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.
    They collected $7 Billion in TV revenue last year ....

    http://www.bloomberg.com/news/2013-0...n-economy.html

    That was split amongst the teams. Perhaps we're arguing the same thing here and saying it in different ways.

    And no, they cannot invest in the sense you're speaking of. They can use procured funds to improve business conditions (i.e. invest in themselves via hire refs, supply them new equipment, etc) but they cannot make a stock investment or anything similar. That crosses the line the IRS calls the "Line of Business".
    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. #26

    Re: NFL doesn't pay taxes??

    Quote Originally Posted by HoustonRaven View Post
    They collected $7 Billion in TV revenue last year ....

    http://www.bloomberg.com/news/2013-0...n-economy.html

    That was split amongst the teams. Perhaps we're arguing the same thing here and saying it in different ways.

    And no, they cannot invest in the sense you're speaking of. They can use procured funds to improve business conditions (i.e. invest in themselves via hire refs, supply them new equipment, etc) but they cannot make a stock investment or anything similar. That crosses the line the IRS calls the "Line of Business".
    TV revenue is split between each of the NFL's 32 member organizations and they are the ones that recognize the revenue, not the NFL. The NFL's Form 990 (Return for Exempt Organizations) is available for anyone to see. It gives you a complete breakdown of their financial picture. I actually prepare quite a few 990s that are much more complicated than the NFL's.




  3. #27
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    Re: NFL doesn't pay taxes??

    Quote Originally Posted by Money227 View Post
    TV revenue is split between each of the NFL's 32 member organizations and they are the ones that recognize the revenue, not the NFL. The NFL's Form 990 (Return for Exempt Organizations) is available for anyone to see. It gives you a complete breakdown of their financial picture. I actually prepare quite a few 990s that are much more complicated than the NFL's.
    Gotcha.

    So we were saying the same thing from different angles.
    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.




  4. #28
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    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.
    Why think when you can start a petition? Isn't that what change.org is all about?
    He Who Dares.....Wins




  5. #29

    Re: NFL doesn't pay taxes??

    The main thing that separates non-profits from profit earning entities is that non-profits do not have shareholders and are expected to plow all of their earnings and contributions back into their mission and operations. The NFL is a trade organization that exists to allow the 32 teams to make money and pay tons of taxes to the IRS. There are no investors waiting to get rich off of investing in the NFL.

    The main thing that doesn't smell like a non-profit is Goodell's $30 million salary. I'm sure that you could find many more qualified people to be Commissioners who would be working to work for less than that.




  6. #30
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    Re: NFL doesn't pay taxes??

    Start a petition for churches to pay tax and I will be the first to sign it.


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  7. #31

    Re: NFL doesn't pay taxes??

    Quote Originally Posted by Trackmaster View Post
    The main thing that separates non-profits from profit earning entities is that non-profits do not have shareholders and are expected to plow all of their earnings and contributions back into their mission and operations. The NFL is a trade organization that exists to allow the 32 teams to make money and pay tons of taxes to the IRS. There are no investors waiting to get rich off of investing in the NFL.

    The main thing that doesn't smell like a non-profit is Goodell's $30 million salary. I'm sure that you could find many more qualified people to be Commissioners who would be working to work for less than that.
    But, that's a choice to be made by the membership (ie. the 32 owners). If they want to pay their commissioner $30mil a year, that's their prerogative. Doesn't change the fact that the NFL (as an umbrella) is nonprofit.




  8. #32
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    Re: NFL doesn't pay taxes??

    Quote Originally Posted by Ravenswintitle View Post
    Start a petition for churches to pay tax and I will be the first to sign it.


    Sent from my iPhone using Tapatalk - now Free
    What taxes do churches not pay that you want them to? How are they different from any other non-profit organization?




  9. #33

    Re: NFL doesn't pay taxes??

    Quote Originally Posted by Ravenswintitle View Post
    Start a petition for churches to pay tax and I will be the first to sign it.


    Sent from my iPhone using Tapatalk - now Free
    Have you ever read the US Constitution, Amendment 1?
    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).




  10. #34

    Re: NFL doesn't pay taxes??

    Quote Originally Posted by Trackmaster View Post
    The main thing that separates non-profits from profit earning entities is that non-profits do not have shareholders and are expected to plow all of their earnings and contributions back into their mission and operations. The NFL is a trade organization that exists to allow the 32 teams to make money and pay tons of taxes to the IRS. There are no investors waiting to get rich off of investing in the NFL.

    The main thing that doesn't smell like a non-profit is Goodell's $30 million salary. I'm sure that you could find many more qualified people to be Commissioners who would be working to work for less than that.
    Form 990 requires you to disclose the process for determining the compensation of the the organization's CEO, Executive Director or top management official. Also all other officers and key employees of the organization. It is not disclosed in the copies of the NFL's 990s that I can access on GuideStar.

    Do people know that Paul Tagliabue still draws a $1mil/year salary as well as another $7.5mil/year in retirement and other deferred compensation from the NFL?




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