NFL is a tax exempt buisness entity???? (1 Viewer)

[Randy Jones]

Y! SPORTS
x-exempt-status-004521453.html

 

[insidejob]

Yes!!!!

 

[St. Geezy]

The NFL as an entity is tax exempt. Each of the 32 teams is its own corporation, and they're not tax exempt.

"The NFL" is the 32 teams' owners.

They can review it all they want, but the fact of the matter is "the NFL" is a non-profit organization. The 32 teams are who makes the profits.

 

[cki3915]

The NFL as an entity is tax exempt. Each of the 32 teams is its own corporation, and they're not tax exempt.

"The NFL" is the 32 teams' owners.

They can review it all they want, but the fact of the matter is "the NFL" is a non-profit organization. The 32 teams are who makes the profits.

Yeah I always thought the NFL itself was not for profit.
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[Lurkaholic]

We had a long thread explaining everything on this topic within the past year, if you'd care to search for it.

 

[albionmoonlight]

Not-for-profit does not mean that you are a charity. It just means that you do not make a profit. Nothing more, nothing less. The NFL does not pay taxes because it makes no profits. The teams and the owners, in contrast, makes truckloads of income and pay taxes on it.

 

[gwballin]

The NFL is a tax exempt entity by law, nothing more nothing less. It does not matter if they make a profit or not.

See IRC Section 501(c)(6).

 

[Lurkaholic]

The NFL is a tax exempt entity by law, nothing more nothing less. It does not matter if they make a profit or not.

See IRC Section 501(c)(6).

Right. It doesn't mean they don't make a profit; it means that they don't take said profit and distribute it to themselves or pay a dividend with it.

 

[Zephyr]

Duh. Football's a religion.

 

[Bayern1987]

Duh. Football's a religion.

 

[Saint_Ward]