NFL At Risk Of Losing Non-Profit Status?

Lowndes
Contact

A recent proposal by U.S. Congressman Jason Chaffetz, the Chairman of the Committee on Oversight and Government Reform, would eliminate the tax-exemption under Internal Revenue Code section 501(c)(6) for professional sports leagues with annual revenues over $10 million.   If successfully passed, this proposal would be expected to affect the National Football League.

Last week, Congressman Chaffetz and Congressman Cummings, another member of the committee, sent a letter to NFL Commissioner Roger Goodell.  This letter asked how the proposal would impact the NFL and other probing questions.    Chairman Chaffetz clearly intends to keep applying pressure with respect to this proposal.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Lowndes | Attorney Advertising

Written by:

Lowndes
Contact
more
less

Lowndes on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
Custom Email Digest
- hide
- hide