As the Times noted that the bills come with high risks, but both them show how ridiculous it is that any major sports organization -particularly both the Madden 24 coins and the NCAA -- are exempt from paying taxes.
It's been reported that Madden NFL 24 has received tax-exempt status since it's an "trade organisation" which means that the teams technically receive the revenue the league makes, and return it to the league in dues. The teams are tax-paying, however, the league doesn't. However, the idea that Madden NFL 24 could be similar to a union or a charity is patently absurd. Even though nonprofit organizations can declare the majority of their expenses as legitimate, the Madden NFL 24 nonetheless reported almost $9 million in 2012. It made nearly $327 million in total revenue , and also paid Commissioner Roger Goodell $44 million.
But this isn't only a Madden NFL 24 issue. The NCAA is a non-profit organization that claims status due to its efforts to support student athletes as well as their families, made $871.6 million for 2012 and is spending record amounts on lobbying to block these same athletes from getting the funds. Even the smallest foot races that involve huge amounts of money, take extravagant trips and pay organizers handily and claim to be nonprofit.
It's time to put an end to the fa?ade.
Tax-exempt status must be provided to organizations that are more than making a profit, in particular ones who seek to aid the public in their mission. Even without mentioning the recent instances, Madden NFL 24 has proven that it's only intent on making money and gaining for itself and its teams. As USA Today pointed out:
"If there's any reason to provide tax exemptions to business clubs, Madden nfl 24 coins it could be their public interest of helping commerce for all in a broad segment of some type of business or business general" claimed (Philip) Hackney who is the LSU law professor who was an IRS attorney in the area of tax exempt-organization issues. "Commerce is important for our country and we must encourage those who are working to improve it to do so in a fairly public way. These (sports) organizations I believe that they do not have a public minded approach to their business interests. They have their sights set on the earnings from their franchises."
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