GOP Senator Slams Pro Sports Leagues For Using Non-Profit Status To Avoid Paying Taxes | ThinkProgress

Published October 19, 2012 by Tjchase

GOP Senator Slams Pro Sports Leagues For Using Non-Profit Status To Avoid Paying Taxes By Travis Waldron on Oct 16, 2012 at 3:55 pm  Oklahoma Sen. Tom Coburn R is out with the latest edition of an online chronicle of wasteful government spending, and he is taking aim at several of America’s professional sports leagues. Coburn objects to the fact that the leagues are classified as tax-exempt non-profit organizations, even as they rake in millions of dollars in profits.The National Football League, National Hockey League, and Professional Golfers’ Association, according to Coburn’s report, could be costing taxpayers at least $91 million a year because of their tax-exempt status, even though they generate billions in revenue, millions in profits, and pay their top executives multi-million dollar salaries:The National Football League NFL, the National Hockey League NHL, and the Professional Golfers’ Association PGA classify themselves as non-profit organizations to exempt themselves from federal income taxes on earnings. Smaller sports leagues, such as the National Lacrosse League, are also using the tax status. Taxpayers may be losing at least $91 million subsidizing these tax loopholes for professional sports leagues that generate billions of dollars annually in profits. Taxpayers should not be asked to subsidize sports organizations already benefiting widely from willing fans and turning a profit, while claiming to be non-profit organizations.The NFL raked in $9 billion in revenue last year and has more than $1 billion in assets, and according to Coburn’s report, it paid eight executives a total of $51.5 million in 2010, including $11.6 million to commissioner Roger Goodell. PGA commissioner Tim Finchem made $5.2 million in 2010; NHL commissioner Gary Bettman made $4.3 million and will reportedly earn nearly $8 million this year.The leagues, in their non-profit filings, claim to be promotion vehicles for their sports the NHL’s mission, for instance, is “to perpetuate professional hockey in the US and Canada.”. These statements have little justification, Coburn wrote, as “major professional sports leagues are hardly in the business of simply promoting the hockey, football, or golf industry. They are in fact businesses — designed to make money.”Though they were unmentioned in Coburn’s report, other sports organizations that file as nonprofits have also faced scrutiny. Many of college football’s biggest bowl games, including the Bowl Championship Series, are classified as non-profit charities. After generating $261 million in revenue in 2009, bowl games gave just $4 million to charity. And in 2007, the New Orleans-based Sugar Bowl made $11.6 million in tax-free profits thanks to its non-profit status.

via GOP Senator Slams Pro Sports Leagues For Using Non-Profit Status To Avoid Paying Taxes | ThinkProgress.

Advertisements

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Ajah Dharma

om... may the great spirit bless you

What a Witch

I am not nice, but I am honest and that is more important.

Witches Of The Craft®

"Witchcraft For The 21st Century"

RealityShifters Blog

Live your best possible life. How good can it get?

Dear Cis People

The ramblings of a non-binary Latino.

moonshaman

The realms of Spirit, Breath, Life ~ Shamanic Endeavors

Stephanie Nicole

Righteous Health

Church of the Cosmos : Temple of Light

WE ARE IMMORTAL TIMELESS BEINGS OF LIGHT IN AN INFINITELY EXPANDING OMNIVERSE FILLED WITH INTELLIGENT LIFE

UMHS Gender Services

comprehensive gender services program for gender variant people and their families

DISMANTLE THE BEAM PROJECT

Real conspiracies - all original content

Mystery of the Iniquity

Truth is inspiring, it is guarded by GOD, and will triumph over all opposition!

wildeoats

Quality gay-shaded & m/m stories, articles & art

Josh Derke for State Representative

Democrat for Michigan's 93rd House (2014)

djmilosz

Just another WordPress.com site

Edge Induced Cohesion

A Historian's Eye View of the World

HandyBob's Blog

Making off grid RV electrical systems work

The Journey

This WordPress.com site is the cat’s pajamas

Daily Queer News

LGBTI News and Politics

evoL =

Allies for equality.

Finding my way back

How do you cope with the loss?

Mr. Moon's Meditation Chamber

The Official Blog of Hip Hop Artist Tony Moon

Different People

Being gay with a mental illness(Bipolar) is a HUGE task to undertake!

The Catbox

Musings on modern Druidry in the UK

The LGBT community and the journey ahead

Being Gay is not a choice, we are born that way

GAY MARRIAGE USA

fb.com/GayMarriageUSA

News and reviews

sharing with others

The Dream Faire

Enchanted Jewelry Designs & Magical Creations by ♥Kat

Gay Polyamory Blog

My thoughts/adventures in polyamory and life.

The Dark Bard

Sharing my thoughts, and my soul, through the medium of poetry and prose.

%d bloggers like this: