Sports Get Tax Breaks

Interesting article on WRAL today about big sports and their non-profit status.  See article here.

2010 Levels of Income that was Tax Free:

  • NFL – $1 billion in assets, $183 million in revenue
  • PGA – $14 million in profit
  • NCAA – $40.7 million in net revenue
  • ACC Conference – brought in $167 million, $1 million in net revenue

All of these entities are exempt from Corporate and Property Tax.

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