Guest Sports News Posted March 10, 2015 Share Posted March 10, 2015 [attach=full]18664[/attach]By Steve Ginsburg WASHINGTON xx (Reuters) - Congressman Jason Chaffetz insists his bid to overturn the NFL's decades-old tax-exempt status has nothing to do with political posturing or electioneering. "The National Football League should have to pay taxes like everybody else." The teams that comprise the NFL, boasting some $10 billion in annual revenues, pay taxes on their profits, as well as on merchandise and player salaries. Chaffetz, a 47-year-old firebrand who became chairman of the powerful House Oversight Committee in January, wants that to change. Section 501©(6) of the Internal Revenue Code lists "professional football leagues" as deserving of tax-exempt status, a vestige of legislative wrangling that helped the NFL and its upstart rival, the American Football League, merge in 1966. Continue reading... Quote Link to comment Share on other sites More sharing options...
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