I heard the same segment on KPCC 89.3 in Los Angeles, CA. Was pretty amazing I thought. What a scam that has been sold to the residents of these cities which have subsidized these teams and stadiums. It is all about greed.
I heard the same segment on KPCC 89.3 in Los Angeles, CA. Was pretty amazing I thought. What a scam that has been sold to the residents of these cities which have subsidized these teams and stadiums. It is all about greed.
Willow Wisp wrote:
You are asserting that all the money the NFL makes goes to the teams. That does not seem to be the case. Goodell is paid $30 million per year by the NFL. The NBA and MLB pay taxes as for profits. Given those facts, I think we can surmise that the NFL makes a lot of money that it does not give to the teams. Plus, if it was giving all the money to the teams, it would have no income and be a for profit and pay no tax. Too many holes in your assertion
The NFL is made up of 32 competing but mutually dependent for-profit business valued at around $700 million - $2billion each. The league office is just an agency which acts on the behalf of all of these businesses in many of the functions previously discussed. The owners of the for-profit businesses approve the salaries of the league office employees, and many, such as the commissioner, are paid very very well indeed. The league office isn't a for-profit business in and of itself despite all of the multimillionaires it employees.
cotton sweatpants no underwear wrote:
Willow Wisp wrote:You are asserting that all the money the NFL makes goes to the teams. That does not seem to be the case. Goodell is paid $30 million per year by the NFL. The NBA and MLB pay taxes as for profits. Given those facts, I think we can surmise that the NFL makes a lot of money that it does not give to the teams. Plus, if it was giving all the money to the teams, it would have no income and be a for profit and pay no tax. Too many holes in your assertion
The NFL is made up of 32 competing but mutually dependent for-profit business valued at around $700 million - $2billion each. The league office is just an agency which acts on the behalf of all of these businesses in many of the functions previously discussed. The owners of the for-profit businesses approve the salaries of the league office employees, and many, such as the commissioner, are paid very very well indeed. The league office isn't a for-profit business in and of itself despite all of the multimillionaires it employees.
You did not address one point I made.
Willow Wisp wrote:
This was news to me:
Despite the fact that it is a $9Billion/Year industry, the National Football League (NFL) continues to enjoy status as a non-profit organization -- meaning it doesn’t have to pay federal corporate taxes.
Just because an entity makes money does not mean it is not "tax-exempt" or not a "nonprofit" entity which are 2 different terms with 2 very different meanings
Just because an entity is a non-profit entity does not automatically mean that they are tax-exempt. In most cases this is true, but not all.
A non-profit entity is a type of legal entity formed in a state which will not distribute any profits to anyone and has no shareholders.
A tax-exempt entity is one that is exempted by the IRS and/or the state's equivalent from having to pay taxes to the federal or state government through 501(c)___ of the Internal Revenue Code and/or the state's equivalent.
In the NFL's case, it is both. All of the teams in the NFL are for profit entities and none are tax-exempt.
Most of Goodell's compensation was in the form of a bonus and he earned it. Until last year, he made less than MLB and NBA commissioners despite the fact that the NFL is much more popular and has gotten more popular under his watch. Of course, none of this makes a difference in whether an entity is considered tax exempt or not or nonprofit or not.
Willow Wisp wrote:
You are asserting that all the money the NFL makes goes to the teams. That does not seem to be the case. Goodell is paid $30 million per year by the NFL. The NBA and MLB pay taxes as for profits. Given those facts, I think we can surmise that the NFL makes a lot of money that it does not give to the teams. Plus, if it was giving all the money to the teams, it would have no income and be a for profit and pay no tax. Too many holes in your assertion
1. You are asserting that all the money the NFL makes goes to the teams. That does not seem to be the case. Goodell is paid $30 million per year by the NFL.
That is not what I am asserting. There are many non-profits with extremely highly paid executives. You say the NFL paid Goodell $30 million, but it's the owners who approve Goodell's salary. He just doesn't go and take what he feels he deserves out of their massive tax free stash of cash.
2. The NBA and MLB pay taxes as for profits.
The NHL and PGA operate their league offices using the same tax exempt status as the NFL. There are any number of reasons that different corporations decide to structure themselves the way they do.
3. Plus, if it was giving all the money to the teams, it would have no income and be a for profit and pay no tax.
It's hard to respond to this. The $9 billion a year business that you think of as "the NFL" is owned collectively by the 32 owners. They are all for profit business that are not tax exempt. They pool together to operate their administrative headquarters (and pay some massive executive salaries) as a tax exempt entity. You seem to believe that the league office is the true owner of the NFL and that it is hording massive amounts of revenue, although I'm not sure who exactly you think is keeping this for themselves.
The senator who originally made a big stink out of the several sports leagues (not just the NFL) using this tax exempt status figured that the federal government would gain an additional $109 million in revenue over 10 YEARS if they disallowed this practice to continue. Assume all of this revenue would come from the NFL and he's basically claiming that this special status allows the NFL to underpay their taxes by 0.1%.
Left Said Fred wrote:
The money the NFL distributes to the 32 teams is taxed, as the teams are for profit corporations.
Just like the money distributed to priests is taxed.
Know the Definitions wrote:
Willow Wisp wrote:This was news to me:
Despite the fact that it is a $9Billion/Year industry, the National Football League (NFL) continues to enjoy status as a non-profit organization -- meaning it doesn’t have to pay federal corporate taxes.
Just because an entity makes money does not mean it is not "tax-exempt" or not a "nonprofit" entity which are 2 different terms with 2 very different meanings
Just because an entity is a non-profit entity does not automatically mean that they are tax-exempt. In most cases this is true, but not all.
A non-profit entity is a type of legal entity formed in a state which will not distribute any profits to anyone and has no shareholders.
A tax-exempt entity is one that is exempted by the IRS and/or the state's equivalent from having to pay taxes to the federal or state government through 501(c)___ of the Internal Revenue Code and/or the state's equivalent.
In the NFL's case, it is both.
Exactly. So why the eff did you go thru all that other nonsense?
Most of Goodell's compensation was in the form of a bonus and he earned it. Until last year, he made less than MLB and NBA commissioners despite the fact that the NFL is much more popular and has gotten more popular under his watch. Of course, none of this makes a difference in whether an entity is considered tax exempt or not or nonprofit or not.
No it doesn't.
2. The NBA and MLB pay taxes as for profits.
The NHL and PGA operate their league offices using the same tax exempt status as the NFL.
But MLB and the NBA are not allowed to.
You seem to believe that the league office is the true owner of the NFL and that it is hording massive amounts of revenue, although I'm not sure who exactly you think is keeping this for themselves.
Actually I never said or implied this. The fact is that the NFL does have a significant income over and above what the teams take. There is a money reason the NFL retains its tax exempt status.
Too many concussions wrote:
Willow Wisp wrote:The NBA and MLB are taxed.
Why not the NFL?
Through the magic of registering as a 501(c)(6) corporation and favorable federal legislation.
Why. Not how?
Willow Wisp wrote:
I believe the NFL --separate from its teams -- makes a ton of dough. What kind of non-profit pays its top exec $30 million per year? Plus the NBA and MLB are for profits that pay taxes.
I'm having a hard time NOT viewing this as a massive tax avoidance scheme.
What does the top exec salary have to do with being a nonprofit? You just hate rich people don't you?
Non-profits generally can not pay their top execs million dollar salaries.
And, yes. I hold the rich in complete contempt. They are sociopaths
its the way of our economy. rich stay rich and get everything.. and we think giving the poor some food stamps is nuf. and they still gotta pay taxes. but if you make enough money you don't have to pay taxes most the time. they will have nuf right offs to cover their butts..
Can you get some 5th grader to help you with the whole post quoting thing so that we might understand what you're trying to say? Thanks.
Klondike5 wrote:
2. The NBA and MLB pay taxes as for profits.
The NHL and PGA operate their league offices using the same tax exempt status as the NFL.
But MLB and the NBA are not allowed to.
You seem to believe that the league office is the true owner of the NFL and that it is hording massive amounts of revenue, although I'm not sure who exactly you think is keeping this for themselves.
Actually I never said or implied this. The fact is that the NFL does have a significant income over and above what the teams take. There is a money reason the NFL retains its tax exempt status.
Willow Wisp wrote:
You did not address one point I made.
Take an accounting class, you moron. Maybe then you'll understand.
Patsy wrote:
Too many concussions wrote:Of course NFL teams are masters of leaching off of the taxpayers for stadiums that they could pay for themselves. It's just more rent seeking by rich guys who pay lip service to free enterprise and capitalism buy are really just trying to pick up corporate socialism.
Not all stadiums are taxpayer supported. If you don't like your taxes supporting your team, speak up and stop it just like others have done.
I do not and yet more often than not voters pass taxes for stadiums. Most often on rental cars and hotels it seems
Patsy wrote:
Not all stadiums are taxpayer supported. If you don't like your taxes supporting your team, speak up and stop it just like others have done
Yeah if only that one dude would speak up, the stadium wouldn't be paid for by taxpayers. Nevermind the thousands of people who speak up every time this comes up in their city, only to be ignored.
I was wondering about this the other day: why don't any cities just buy a team outright? It seems like they're taking a lot of the risk and leaving the payoff on the table.
Don't be stupid, or lazy. People stop this taxpayer funded shit all the time. I guess some cities are just full of lazy whiners like you.
Don't be ignorant, or lazy. People try to stop this every time it comes up. Its passage has nothing to do with your efforts unless your efforts involve greasing the right pockets.
hear me out bro wrote:
Willow Wisp wrote:You did not address one point I made.
Take an accounting class, you moron. Maybe then you'll understand.
The endless whining sound from the Right Wing Sheeple does get annoying after a while
Ho Hum wrote:
I was wondering about this the other day: why don't any cities just buy a team outright? It seems like they're taking a lot of the risk and leaving the payoff on the table.
This did happen in Green Bay and the organization is doing great.
But some billionaire is being denied the opportunity to makes tons of more dough off the backs of taxpayers and fans. The NFL will NOT allow this to happen anywhere else