Despite generating around $9 billion per year in revenue, the NFL does not pay taxes. It is listed as a no-for-profit organization pre Section 501(c)(6) of the Internal Revenue Code which exempts "business leagues, chambers of commerce, real estate boards, boards of trade, or professional football leagues (whether or not administering a pension fund for football players), not organized for profit … ." from taxes. The teams that conpose the NFL are viewed as separate, competing enteties that are organized by the League. While the League often brings in less money than it spends, the individuals profit greatly from year to year. Roger Goodell, the commissioner of the NFL, earned over $44 Million in salary last year, more than double the salary of the highest payed player in the NFL.
http://m.huffpost.com/us/entry/6681526
1 comment:
It am very surprised to learn that the NFL has a tax exemption status. I do not completely understand how they can get away with saying that they are non-profit. Especially since they have a commissioner that makes $44 million in annual salary.
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