GOP Senator Slams Pro Sports Leagues For Using Non-Profit Status To Avoid Paying Taxes
By Travis Waldron on Oct 16, 2012 at 3:55 pm
Oklahoma Sen. Tom Coburn (R) is out with the latest edition of an online chronicle of wasteful government spending, and he is taking aim at several of America’s professional sports leagues. Coburn objects to the fact that the leagues are classified as tax-exempt non-profit organizations, even as they rake in millions of dollars in profits.
The National Football League, National Hockey League, and Professional Golfers’ Association, according to Coburn’s report, could be costing taxpayers at least $91 million a year because of their tax-exempt status, even though they generate billions in revenue, millions in profits, and pay their top executives multi-million dollar salaries:
Think Progress reported. What Coburn did not report was that each and every team, player and coach all paid their taxes according to their ability.
By Travis Waldron on Oct 16, 2012 at 3:55 pm
The National Football League, National Hockey League, and Professional Golfers’ Association, according to Coburn’s report, could be costing taxpayers at least $91 million a year because of their tax-exempt status, even though they generate billions in revenue, millions in profits, and pay their top executives multi-million dollar salaries:
Think Progress reported. What Coburn did not report was that each and every team, player and coach all paid their taxes according to their ability.