Wazzu Bill Posted April 28, 2015 Posted April 28, 2015 http://www.bloomberg.com/politics/articles/2015-04-28/nfl-will-end-its-tax-exempt-status-goodell-tells-team-owners While I hate that the NFL is tax exempt, I can only think of selfish reasons that Goodell would want to turn the tables. Prepare for his salary to go from 35 mil to 50 mil I hope the money they pay in taxes doesn't cause inflation of NFL-related expenses for the fans.
EmotionallyUnstable Posted April 28, 2015 Posted April 28, 2015 Yep, no longer required to make his salary public record.
Beef Jerky Posted April 29, 2015 Posted April 29, 2015 http://www.bloomberg.com/politics/articles/2015-04-28/nfl-will-end-its-tax-exempt-status-goodell-tells-team-owners While I hate that the NFL is tax exempt, I can only think of selfish reasons that Goodell would want to turn the tables. Prepare for his salary to go from 35 mil to 50 mil I hope the money they pay in taxes doesn't cause inflation of NFL-related expenses for the fans. I love how people that have no knowledge blame Goodell for everything.
Max997 Posted April 29, 2015 Posted April 29, 2015 http://www.bloomberg.com/politics/articles/2015-04-28/nfl-will-end-its-tax-exempt-status-goodell-tells-team-owners While I hate that the NFL is tax exempt, I can only think of selfish reasons that Goodell would want to turn the tables. Prepare for his salary to go from 35 mil to 50 mil I hope the money they pay in taxes doesn't cause inflation of NFL-related expenses for the fans. So Goodell has selfish reasons for wanting the league office to pay taxes? Yeah that makes sense. What does Goodell's salary have to do with anything? I will never understand why people hv an issue with it as he's basically the CEO of a multi billion dollar company that continues to grow.
NoSaint Posted April 29, 2015 Posted April 29, 2015 About time, they sure aren't a non-profit. That's why the teams paid taxes
Mr. WEO Posted April 29, 2015 Posted April 29, 2015 Symbolic gesture. The lack of a basic understanding of their "tax exempt" status by a lot of posters on this board has always been hard to fathom...
DC Tom Posted April 29, 2015 Posted April 29, 2015 About time, they sure aren't a non-profit. Because the NFL doesn't make a profit. The franchises make profits. The LEAGUE actually loses money. Not only that, but the league's balance sheet is in the red. And now, as a "non-non-profit," the franchises can now use those losses to offset some of their income, and pay less in taxes themselves. That's right: the NFL might actually pay LESS in taxes now than they did with tax-exempt status. So be careful what you wish for. Particularly when you're too stupid to understand it.
GG Posted April 29, 2015 Posted April 29, 2015 So be careful what you wish for. Particularly when you're too stupid to understand it. That's usually the case when someone discusses taxes.
NoSaint Posted April 29, 2015 Posted April 29, 2015 Because the NFL doesn't make a profit. The franchises make profits. The LEAGUE actually loses money. Not only that, but the league's balance sheet is in the red. And now, as a "non-non-profit," the franchises can now use those losses to offset some of their income, and pay less in taxes themselves. That's right: the NFL might actually pay LESS in taxes now than they did with tax-exempt status. So be careful what you wish for. Particularly when you're too stupid to understand it. Bravo.
DC Tom Posted April 29, 2015 Posted April 29, 2015 That's usually the case when someone discusses taxes. Particularly corporate taxes, when they assume that "revenue" and "profit" are the same damned thing.
GG Posted April 29, 2015 Posted April 29, 2015 Particularly corporate taxes, when they assume that "revenue" and "profit" are the same damned thing. Never mind the difference between accrual and cash accounting.
nemhoff Posted April 29, 2015 Posted April 29, 2015 I love how people that have no knowledge blame Goodell for everything. I totally agree with you, dude gets crapped on for any move the NFL makes. I can assure that RG had nothing to do with the tax status of the NFL
The Wiz Posted April 29, 2015 Posted April 29, 2015 This will net the NFL money hand over fist on what it already has (off the books). I'm sure the NFL has exhausted most of the outlets that they can for NFP and exploited others such as deals with FOX/NBC/NFLN/Nike/etc. but now they are going to take the non-profit label off and be a true business. Get ready to see a new name on the NYSE (NFL).
White Linen Posted April 29, 2015 Posted April 29, 2015 Because the NFL doesn't make a profit. The franchises make profits. The LEAGUE actually loses money. Not only that, but the league's balance sheet is in the red. And now, as a "non-non-profit," the franchises can now use those losses to offset some of their income, and pay less in taxes themselves. That's right: the NFL might actually pay LESS in taxes now than they did with tax-exempt status. So be careful what you wish for. Particularly when you're too stupid to understand it. Thank you for this excellent post.
Saxum Posted April 29, 2015 Posted April 29, 2015 The fault with the NFL is they have not been investing some of their non-profit donations in the right way - education of the idiots who are customers.
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