As the Times reported the bill is facing a steep risks, but both them bring to Mut 24 Coins light just how absurd it is that any of the top sports organizationsparticularly both the Madden NFL 24 and the NCAA are exempt from taxation.
Madden NFL 24 Madden NFL 24 has received tax exempt status due to it being a "trade organisation" -- the teams technically get the money the league generates, then pay the league back in dues. The teams pay taxes, however, the league does not. However, the idea that Madden NFL 24 can be similar to a union or a charitable organization is completely absurd. Even though non-profit organizations can be able to claim that most expenses are legitimate ones, the Madden NFL 24 did report an impressive profit of nearly $9 million in 2012. The league reported nearly $327 million in total revenues and paid commissioner Roger Goodell $44 million.
However, this isn't a Madden NFL 24 issue. The NCAA, which claims nonprofit status because of its efforts in helping student-athletes have claimed $871.6 million for 2012 and is currently spending record amounts lobbying efforts to block those athletes from receiving any of the funds. Even the smallest foot races that contain huge sums of money, travel on lavish trips and pay organizers handily they claim that they are nonprofit.
It's about time to get rid of the facade.
Tax-exempt status is supposed to be granted to organizations that are more than earning a profit, particularly those that seek to assist the public in their mission. Even without mentioning the recent events, Madden NFL 24 has proven that it's only focused on turning a profit as well as benefitting its teams. USA Today pointed out:
"If there's a reason for providing tax exemption to business associations, it should be they operate for the public purpose of aiding commerce for all in broad segments of a type of business or business generally," stated (Philip) Hackney who is and an LSU law professor who has previously worked as an IRS attorney focusing on tax exempt organizations issues. "Commerce is important for our country and we should encourage those engaged in it with a more public-minded way. These (sports) organizations according to me, do not have a public minded approach to their financial interests. They are focused on Madden 24 Coins Buy the financial success associated with their franchises."
