The NFL is about a $10 billion industry annually. 10,000,000,000. That’s A LOT of zeros. And as an organization is pays federal income taxes on $0.
New Orleans Saints fan Linda Woodard is trying to change that. She has petitioned congress to revoke the NFL’s status as a 501 (c) 6 tax exempt organization.
Despite the fact that it is a $9Billion/Year industry, the National Football League (NFL) continues to enjoy status as a non-profit organization — meaning it doesn’t have to pay federal corporate taxes.
The Commissioner of the NFL, Roger Goodell, makes nearly $30 million a year — earning more than the heads of companies like Coca-Cola and Wal-Mart. Through TV deals alone, the NFL has inked nearly $30 billion with various television networks. And so often, fans like you and me are asked to foot the bill for new stadiums through our own taxes.
Yet despite being the most profitable sports league in the entire world, the NFL does not pay federal taxes.
The NFL is insistent that the majority of its revenue is taxed when it’s passed on to the owners.
The petition, that can be found on change.org, has received over 200,000 signatures.