As the Times noted the bill is facing a steep odds, yet both of them bring to light just how absurd it is any of the top sports organizationsparticularly Madden 24 coins and the NCAA Madden NFL 24 and the NCAA -- are exempt from paying taxes.
It's been reported that Madden NFL 24 has received tax-exempt status due to the fact that it's to be a "trade organization" and the teams technically get the money the league generates, then pay the league back in dues. The teams are tax-paying, but the league itself doesn't. However, pretending the Madden NFL 24 will be comparable to a labor union or a charity is simply absurd. Even though nonprofit organizations can make claims that they are legitimate ones The Madden NFL 24 still reported an impressive profit of nearly $9 million in 2012. The league reported nearly $327 million in total revenues and paid Commissioner Roger Goodell $44 million.
It's not just a Madden NFL 24 issue. The NCAA also claims non-profit status because of its efforts to support student athletes and their families, raked in $871.6 million for 2012 and is now investing record amounts in lobbying to keep those same athletes from getting any of the money. Small foot races, which are awash with huge amounts of money, make extravagant trips , and pay organizers a hefty sum are claiming nonprofit status.
It's time to end the fa?ade.
Tax-exempt status is supposed to be granted to companies that are not solely focused on making a profit, in particular ones that are trying to help the general public in their efforts. Although we can't ignore the last week's issues, Madden NFL 24 has proven that it is solely intent on making money and benefiting itself and its teams, as USA Today pointed out:
"If there's any reason for tax exempting business clubs, it could be that they have the public benefit of encouraging commerce across an extensive segment of some type of business or business in general," claimed (Philip) Hackney who is an LSU faculty member who had previously was an IRS attorney, a tax lawyer who dealt with exempt-organization tax questions. "Commerce is crucial to our nation, and we should encourage those involved in the field with a more public-minded way. These (sports) organizations are, to my mind, are anything but public-minded in their interest in profit. They are focused on the financial success from their franchises."
There's a misguided expectation for people to view sports organisations as entities that transcend business in the sense that they're focussed on the bigger picture. But , in reality, this is only a rhetorical statement. This version of Madden NFL 24 is not focused on the good of the community as well as upholding a high moral standard. The NCAA is not awash with educators hoping to protect athletes from consumerism. Your local marathon probably not giving nearly more to charity than you think it should.
Even if you take out this week's incidents, the Madden NFL 24 has proven Mut coins for sale that it's solely intent on making a profit and earning a profit.