The PGA Tour and LPGA Tour, like its fellow U.S.-based sports leagues, are classified under the law as a 501(c)(6) organization -- a tax-exempt status granted to Business Leagues, Chamber of Commerces and Real Estate Boards.
Posted on 09/25/2013 7:32:37 PM PDT by Bratch
The PGA Tour and LPGA Tour, like its fellow U.S.-based sports leagues, are classified under the law as a 501(c)(6) organization -- a tax-exempt status granted to Business Leagues, Chamber of Commerces and Real Estate Boards.
As a 501(c)(6) membership organization that co-sanctions more than 100 tournaments on five professional golf tours, the PGA TOUR directs all net revenue either to benefit our members or charity. Players are compensated through tournament purses and performance-based retirement plans. While our tax exempt status does not require or depend on charitable activities in any way, giving back is a fundamental part of what we do.The vast majority of PGA TOUR co-sanctioned tournaments are organized for a charitable purpose, and all tournaments have a charitable focus with net proceeds being contributed directly to worthy causes in the communities where they are held. In 2012 alone, tournaments generated more than $130 million for over 3,000 charities across the United States, bringing our all-time total to $1.86 billion. This level of charitable giving is unprecedented in professional sports.
Coburn another Tax and Spend RINO
Where this tax will really hurt is the PGA and LPGA run a lot of youth and amateur tourneys and clinics that do not make money. It could kill a lot of those
Also, many golfers vote GOP...or used to vote GOP
If Coburn will tax PGA...he will tax other things
Their costs are high and margins are low and the nation economy is down.
Taxation would only place addition pressure to these businesses.
Why should they be taxes less than any other business?
Cut taxes for all business. The rates should be the same.
Tea party favorite my a**
barrycare is set to take off, Cruz stands tall with Lee and tells it like it is. And THIS is what Tommy puts his energy into? Really??????
Get off your butt and fight the good fight, before you bow out, you worthless pos.
Ugh, I’ve had it today!!
[The PGA Tour is close to raising $2B in charitable donations...]
The way money descriptions are thrown around today, $2B doesn’t sound like a lot to many people. But when you say $2B is two thousand contributions of one million each, it is easier for more people to understand.
No business pays income tax. The customers pay it. There should be no corporate tax.
The NFL and the PGA isn’t a business. They are a non profit organization, who take massive subsidizes and other advantages over conventional businesses and enterprises. They are favored over such entities.
Who cares? Golf is a rich man’s game anyway.
(Is the < /sarc > tag really needed?)
The NFL and the PGA are businesses whether they call themselves businesses or not. My point was not that they should continue getting special tax treatment. My point was that no business should pay taxes.
The truth is, businesses do not pay taxes their customers pay. The business simply collects taxes from customers in the form of higher prices.
Instead of adding taxes on the NFL and PGA fans, congress should eliminate taxes on all businesses.
I agree.
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