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Thread: NFL doesn't pay taxes??
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10-10-2013, 05:52 PM #25Legendary RSR Poster
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Re: NFL doesn't pay taxes??
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".
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10-10-2013, 07:49 PM #26
Re: NFL doesn't pay taxes??
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.
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10-10-2013, 08:40 PM #27Legendary RSR Poster
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10-11-2013, 10:37 AM #29Regular 1st Stringer
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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.
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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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10-11-2013, 11:01 AM #31Veteran Poster
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10-11-2013, 11:09 AM #32
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10-11-2013, 11:18 AM #33
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10-11-2013, 11:37 AM #34
Re: NFL doesn't pay taxes??
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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