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Thread: N.J. senator Cory Booker aims to strip pro leagues of tax-exempt status

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    Re: N.J. senator Cory Booker aims to strip pro leagues of tax-exempt status

    Quote Originally Posted by Ikari View Post
    Yeah and the NCAA doesn't make any money either.
    Quote Originally Posted by Samhain View Post
    They are, and they aren't. Each team isn't tax exempt, but the league office is, as it was established as a trade organization, just like the ABA and AMA.

    I don't think the actual league office makes money in any capacity to be taxed.

    In other words, Cory Booker is looking to score points.
    So who is it then that is paying the executives? For example, I know Roger Goddell made 44 million dollars last year.

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    Re: N.J. senator Cory Booker aims to strip pro leagues of tax-exempt status

    Quote Originally Posted by Samhain View Post
    According to the IRS filing for 2013
    Total Revenue
    $326,882,787

    Total Expenses
    $317,886,748


    They lost 52 million and 77 million in 2011 & 2012.
    mmm yes, "lost". That's why they can continue to do business, by loosing multimillions of dollars.

    Something is rotten in the state of Denmark.
    You know the time is right to take control, we gotta take offense against the status quo

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    "I should have loved freedom, I believe, at all times, but in the time in which we live I am ready to worship it."

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    Re: N.J. senator Cory Booker aims to strip pro leagues of tax-exempt status

    Quote Originally Posted by Hamster Buddha View Post
    So who is it then that is paying the executives? For example, I know Roger Goddell made 44 million dollars last year.
    Revenue minus expenses. Hell they list a "net worth" of negative 200 million. and Goodell paid taxes on that 44 million too.

    http://www.guidestar.org/FinDocument...907a8cd-9O.pdf

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    Re: N.J. senator Cory Booker aims to strip pro leagues of tax-exempt status

    Quote Originally Posted by Hamster Buddha View Post
    NFL Players are NOT tax exempt.
    The players aren't, but the league itself is.

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    Re: N.J. senator Cory Booker aims to strip pro leagues of tax-exempt status

    Quote Originally Posted by TheDemSocialist View Post
    Read more @: N.J. senator Cory Booker aims to strip pro leagues of tax-exempt status

    I always thought it was ridiculous that the NFL had tax exempt status. This is a bill I can stand behind. They should have to pay taxes just like the teams.
    First off, it's highly unlikely that the NFL will pay any tax. If they're operating at any significant profit level then they're doing it wrong. Actually, I just checked and their financials for 2010 are here - Scribd - they wouldn't be paying any taxes.

    Secondly, if you're going to make the NFL a taxable entity then you damned well better be doing everything you can to make trade unions and lobbying organizations taxable too.

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    Re: N.J. senator Cory Booker aims to strip pro leagues of tax-exempt status

    Quote Originally Posted by TeleKat View Post
    The players aren't, but the league itself is.
    Ah okay then.

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    Re: N.J. senator Cory Booker aims to strip pro leagues of tax-exempt status

    Quote Originally Posted by Lutherf View Post
    First off, it's highly unlikely that the NFL will pay any tax. If they're operating at any significant profit level then they're doing it wrong. Actually, I just checked and their financials for 2010 are here - Scribd - they wouldn't be paying any taxes.

    Secondly, if you're going to make the NFL a taxable entity then you damned well better be doing everything you can to make trade unions and lobbying organizations taxable too.
    So back when the NFL made that deal with former players, to the tune of some hundreds of millions of dollars, if the NFL isn't paying it, is the Owners then?

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    Re: N.J. senator Cory Booker aims to strip pro leagues of tax-exempt status

    Quote Originally Posted by tres borrachos View Post
    I also think they shouldn't get tax exempt status,
    but I wish they would focus on more important issues in the Senate.
    Such as Mitch McConnell not filibustering women in pay equity?
    Whatever happend to the Sen. McConnell who demanded straight-up-and-down votes when the GOP was in control last decade?

    But the GOP did allow enough debate until it was too late to vote on minimum wage and Hobby Lobby.
    Then they filibustered America's women.
    Why does the potential future Majority Leader continue to play these games with America's women ?
    Physics is Phun

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    Re: N.J. senator Cory Booker aims to strip pro leagues of tax-exempt status

    Quote Originally Posted by Hamster Buddha View Post
    So back when the NFL made that deal with former players, to the tune of some hundreds of millions of dollars, if the NFL isn't paying it, is the Owners then?
    The league office makes the payments, but their revenue comes from the teams, whose revenue comes from fans, so I guess it depends on how many layers you are looking to penetrate.

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    Re: N.J. senator Cory Booker aims to strip pro leagues of tax-exempt status

    Quote Originally Posted by Hamster Buddha View Post
    So back when the NFL made that deal with former players, to the tune of some hundreds of millions of dollars, if the NFL isn't paying it, is the Owners then?
    If you look at the financials you will see that the primary function of the NFL is to facilitate financing for stadiums and to secure media contracts. They are not operating in a "for profit" manner as the purpose of the organization is to make member organizations (which are taxable entities) more profitable.

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