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re: Congress going after the NFL
Posted on 6/21/14 at 4:38 pm to LongueCarabine
Posted on 6/21/14 at 4:38 pm to LongueCarabine
$18 trillion f**king debt and this is what these bastards worry about? They should all be shot in the head!
1
Posted on 6/21/14 at 10:43 pm to memphis tiger
quote:
They really shouldn't. I can't think of a single reason why they should have it.
A basic tax/financial class should be required for any college major.
Posted on 6/22/14 at 1:48 am to darkhorse
The league is tax exempt, the teams are not. The league is classified as a professional trade organization while the teams are generally taxed as corporations.
Posted on 6/22/14 at 2:07 am to darkhorse
The NFL and other professional sports business deserve this treatment. They exploit irrational fan bases by routinely pitting state and local governments against each other.
Posted on 6/22/14 at 7:19 am to Tim
quote:
$18 trillion f**king debt and this is what these bastards worry about? They should all be shot in the head!
Yup.
Posted on 6/22/14 at 7:23 am to darkhorse
quote:
except for marriage and kids.
Why marriage and kids? Why should a man who is not married pay more taxes?
Posted on 6/22/14 at 7:32 am to Strannix
quote:
Why should a man who is not married pay more taxes?
I wonder the same about single males and car insurance.
Posted on 6/22/14 at 8:19 am to Homesick Tiger
Jesus. People don't read even a short thread before responding. Thank you for all the answers to my question except...
I think this would have been beyond the scope of any basic tax class.
I do find it interesting that my question got answered about five times over just a page. And then, even after my question had been answered numerous times, people were still asking my original question.
Only on the poliboard. A place where someone can post a link, says it says the exact opposite of what the actually link says, and no one will notice till about page four of the thread...
quote:
A basic tax/financial class should be required for any college major.
I think this would have been beyond the scope of any basic tax class.
I do find it interesting that my question got answered about five times over just a page. And then, even after my question had been answered numerous times, people were still asking my original question.
Only on the poliboard. A place where someone can post a link, says it says the exact opposite of what the actually link says, and no one will notice till about page four of the thread...
Posted on 6/22/14 at 8:44 am to thetempleowl
The NFL is a trade organization. It operates for the benefit of the members, the individual teams. The NFL collects revenue from television rights, licensing its products and whatever else it can. The revenue is used to pay league operating expenses, and any surplus is shared among the various teams. Tax on all of the income is determined at the team level rather than the league level. In effect the NFL is taxed the same as a partnership.
Posted on 6/22/14 at 8:47 am to thetempleowl
quote:
Excuse my stupidity, but why should they have a tax exempt status?
They don't actually post a profit. Expenses >= revenue.
So if they were a non-exempt organization - they're income tax bill would still be zero.
However - if I'm not mistaken - the NFL's status also entitles them to other tax exemptions like local sales tax, etc. Can anyone comment on whether I'm right?
THe question of whether or not they should be tax exempt (morally, not legally) I think comes down to whether the NFL exists mostly to promote the profit making of its members - or does it exist mostly to promote the sport of football (with profit making just being coincident to how the sport is promoted)? I think that it may have been the latter in the beginning - but today it is the former.
This post was edited on 6/22/14 at 8:50 am
Posted on 6/22/14 at 9:25 am to thetempleowl
I might have been a bit of an a-hole, but you'd be surprised how often people grab the pitchforks hearing about how the NFL is tax-exempt. I hear shite like that all the time on different accounting concepts, like Conservatism, taxation for rich people who aren't really declaring profits anymore (because they just want to sit on their money), and how publicly traded company's filings work. You saw it in this thread, nobody Googled why it's tax exempt, they immediately started bitching to each other.
Posted on 6/22/14 at 9:27 am to Jcorye1
Sometimes I get the feeling that liberals want football banned.
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