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Old 06-19-13, 12:33 PM   #5
mookiemookie
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But the NFL did get themselves written into the tax code so that they are exempt from paying income tax.

Quote:
Section 501(c)(6) of the Internal Revenue Code provides for the exemption of business leagues, chambers of commerce, real estate boards, boards of trade and professional football leagues, which are not organized for profit and no part of the net earnings of which inures to the benefit of any private shareholder or individual.
To say that the NFL is not organized for profit is stretching the regulation just a wee bit.
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