PGA Tour Thriving On Tax Breaks
By Torleif Sorenson on 12/16/13
Back in September, we told you about S.1524, "The Properly Reducing Overexemptions for Sports Act" — legislation proposed by U.S. Senator Tom Coburn (R-Oklahoma). Coburn's bill seeks to:
The PGA Tour's donations to charitable and community amount to $2 billion over the last 75 years, offsetting tax breaks totaling roughly $200 million over the last 20 years. The Tour's contributions far and away outweigh those of the National Football League, which amounts to some $368 million over the last 40 years.
Whether or not you agree with the NFL and the PGA Tour receiving non-profit status, Lavigne's report is definitely worth seeing and reading.
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[ comments ]
Matt McGee says:
If the PGA is truly interested in being philanthropic, there's nothing stopping them from paying taxes AND donating to charity, is there?
So if 16% of the money from tournaments actually goes to charity. Isn't that still less overhead than what the tax dollars would wind up seeing after going through Washington?
Well they could stop forking out an ungodly amount of prize money and donate more that way too. Either way another way to try to take in more tax money and give to "their" charities. You know like welfare, food stamps, cell phones, and other crap they say they need to help. Giving a charity 1.5 mil is better then nothing.
hmmm, so if we divide 2 billion over 75 yrs we get 27 million per year, and if we divide 200 million over 20 years we get 10 million per year. which is still very generous over what they would have paid in taxes. and the nfl gives 9 million per year.
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