The National Football League is giving up its tax-exempt status, as NFL Commissioner Roger Goodell deems it a “distraction.” Jesse Ventura proclaims, "Gee, that's mighty corporate of them!"
NFL Commissioner Roger Goodell
As the Governor says, "the heat got too hot in the kitchen! All these years without paying taxes...perhaps they felt they had to pay their fair share like anybody else."
And now, the NFL seems to be following in the steps of Major League Baseball, which gave up its 501(c)(6) tax-exempt status in 2007.
Goodell, in a letter to team owners, stated the league and its management council will file tax returns as taxable entities for the 2015 fiscal year.According to the Associated Press, NFL has been tax-exempt since 1942, even though all 32 teams pay taxes on their income.Goodell clarified: “Every dollar of income generated through television rights fees, licensing agreements, sponsorships, ticket sales, and other means is earned by the 32 clubs and is taxable there.”
Goodell wrote, “As you know, the effects of the tax-exempt status of the league office have been mischaracterized repeatedly in recent years…The fact is that the business of the NFL has never been tax exempt.”
He continued, “As a result, the committees decided to eliminate the distraction.”
Bloomberg first reported on the news here.
What do you think vigilant fans?Is the NFL doing the right thing (finally)?Sound off below.
Watch Jesse Ventura’s take on the NFL’s Super Bowl impositions:
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