What comes to mind when you think of the NFL? Most people automatically think of large fan-filled stadiums, well paid athletes, and money. In fact, the NFL has always been recognized as a powerhouse when it comes to generating revenue. It generates roughly $9 billion in revenue and $1 billion in profit each year. These numbers may not come as a surprise, but the league's tax status might. Did you know that NFL corporate headquarters operates as a 501(c)(6) non-profit?
The fact that the NFL operates as a non-profit may come as a surprise, but you may be wondering what the "501", "c", and "6" mean. This is a reference to the United States Internal Revenue Code, item 6 of subsection C of section 506. In this part of the code, it specifically states that "professional football leagues ... not organized for profit" are "exempt from taxation". Do you think that the NFL falls under this classification? Share your thoughts in a comment below!
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