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.
Since when was Coburn (RINO-OK) known as a Tea Party favorite?
This reminds me of the “cabaret tax” aimed at the “wealthy” who used to go to dine-and-dance cabarets and listen to the Big Bands. It was a major factor of several factors that killed the cabarets and the Big Bands.
“Since when was Coburn (RINO-OK) known as a Tea Party favorite? “
The term Tea Party is used as a general pejorative by the media, since the TEA Party is a major threat to the Two Party monopoly.
The bartenders, waitstaff, and other various jobs that cater to golfers will get hit hard. This is just like the luxury tax on yachts, which backfired because the people building the yachts got laid off.
Great idea — as long as it’s offset by an equal reduction in rates.
We all know how likely that is.
Shame the sports stars wouldn’t omplain about the high corporate tax- instead they’d complain about having to pay it.
Some pigs are more equal than others, Coburn knows that. Maybe he’s subtly asking them to donate to his campaign...
The answer is that no one should receive ‘tax breaks’ of any kind. That is the only way to be fair and equitable across the board, and that will eliminate manipulation by the government.
Not realistic in today’s world probably but...
The PGA, MLB, NHL, NBA and NFL are struggling in this economy and we have GOP senators that want to squeeze the last pennies out of their wallets.
One shouldn't favor one 'business' over another. Either all businesses are exempt, or all taxed the same.
The Washingtonians intend to steal everything not nailed down.
I don’t want to tax them more, I want to stop subsidizing them at all.
exactly
What do they charge to hang around the 18th hole at a major event, how much for a beer or a dog?
They can afford it
$$$$$$$$$$$$$$$$$$$$$$$$$$$
"We just want our taste is all."
Say whaaaat?
... Coburn knows that. Maybe he’s subtly asking them to donate to his campaign...
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I think Coburn is retiring after this term in office. That may explain why he has been acting so freaky in recent months. ....Why the hell would anyone want to begin taxing an organization like the PGA that gives millions of dollars to charities all over the country every year?
The PGA Tour is close to raising $2B in charitable donations...
http://www.jsonline.com/blogs/sports/201514331.html
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