As the Times noted that the bills are facing high odds, yet both of them highlight how absurd it is that the major sports leagues -including those that play in the Madden 24 coins and the NCAA are exempt from taxation.
Madden NFL 24 has received tax exempt status due to it being to be a "trade organisation" -- teams technically receive the revenue the league makes, and return it to the league in dues. The teams pay taxes, however, the league does not. But, claiming that the Madden NFL 24 will be comparable to a labor union or a charity is completely absurd. Although nonprofit organizations are able to be able to claim that most expenses are legitimate however, the Madden NFL 24 nonetheless reported an impressive profit of nearly $9 million in 2012. It posted nearly $327million in total revenue , and also paid commissioner Roger Goodell $44 million.
However, this isn't a Madden NFL 24 problem. The NCAA who claims to have a nonprofit status due to its efforts to assist student-athletes and their families, raked in $871.6 million in 2012 and is now making record-breaking expenditures on lobbying to block these same athletes from receiving the funds. Small foot races, which contain huge sums of money, go on extravagant trips and pay organizers in a huge amount and claim to be nonprofit.
It's time to end the facade.
Tax-exempt status is meant to be given to businesses that have a goal other than making money, especially those that seek to assist the general public in their efforts. Even if you take out this week's incident, Madden NFL 24 has proven that it's only focussed on making money while also benefitting its teams, as USA Today pointed out:
"If there is a justification for tax exempting businesses,cheap Madden 24 coins it would be that they serve the general purpose of supporting commerce for all within the broad spectrum of a kind of business or generally," claimed (Philip) Hackney who is an LSU faculty member who had previously worked as an IRS attorney litigating exempt-organization tax questions. "Commerce is vital for our country and we should encourage those working on it in a very public manner. These (sports) organisations according to me, are not public-minded, despite their profits. They focus on the profit for their franchises."
