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Started By
Message
re: Face Value Regardless of TAF Tradition Funds
Posted on 8/17/12 at 8:44 am to LSUBaseballGod82
Posted on 8/17/12 at 8:44 am to LSUBaseballGod82
quote:
Face Value is 40.00 Get it right people.
For the small games.
0
Posted on 8/17/12 at 9:13 am to Newbomb Turk
Yep free market baby, if you don't like what I'm charging find some place else to buy
Posted on 8/17/12 at 9:21 am to Newbomb Turk
quote:
You just can't be this f*cking stupid and naive.
The ONLY reason that they classify it as a "donation" is because the income tax code is written in such a way to allow for an 80% "donation" deduction. To "help out" its season ticket holders (and because every other big time program takes advantage of the same provision), LSU simply classifies the increase in season ticket prices to "Tradition Fund DONATIONS".
LSU can give a flying f*ck about what's printed on the ticket. They know that they want $X for each ticket. IF the Internal Revenue Code grants a no-cost benefit to its ticket holders, then LSU will let it's season ticket holders take advantage of that -- just like Bama, Florida, Auburn, Oklahoma, Texas, Notre Dame and every other big time program does.
But, make no mistake about it -- you're paying for the f*cking ticket -- not a tax made-up "donation".
Posted on 8/17/12 at 9:48 am to LSUBaseballGod82
I believe you are correct from a legal perspective. People don't seem to understand that the TAF contribution is "A charitable donation". If the ticket holder deducts that donation from their taxes, then they certainly can not claim it is a part of the "price". The last I heard, the ticket holder can not deduct the whole deduction anymore.
BTW, the key legal issue is the scalping law. Unless it has been changed, you can not sell the ticket for more than face value.
BTW, the key legal issue is the scalping law. Unless it has been changed, you can not sell the ticket for more than face value.
This post was edited on 8/17/12 at 9:53 am
Posted on 8/17/12 at 10:55 am to MikeTheTiger58
And what is your determination of Face Value?
Posted on 8/17/12 at 11:46 am to MikeTheTiger58
quote:
If the ticket holder deducts that donation from their taxes, then they certainly can not claim it is a part of the "price"
You only deduct it from your income for purpose of calculating taxes. It's not a credit against your tax liability. So the only part you are effectively not paying is the taxes you would have paid on the deducted amount. And even then you only get it if you are itemizing deductions.
quote:
The last I heard, the ticket holder can not deduct the whole deduction anymore.
That's true. You can only take 80% of the donated amount off of your income for tax purposes.
quote:
BTW, the key legal issue is the scalping law. Unless it has been changed, you can not sell the ticket for more than face value.
I don't know what the scalping law says, but if I sold my ticket for the cost I had to pay LSU for it, and the D.A. tried to prosecute me for scalping, I would feel like I had a pretty strong case that the donation I am forced to make in order to buy the ticket is part of the "face value".
Posted on 8/17/12 at 11:58 am to LSUBaseballGod82
Who gives a frick, people will sell their tickets for what they want.
Bottom line is the face value is whatever the person selling the tickets says it is, if you don't like it, go some where's else.
Bottom line is the face value is whatever the person selling the tickets says it is, if you don't like it, go some where's else.
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