• Tax

    NFL to Lose Tax Exempt Status?

      The NFL is the nation’s largest sports franchise, generating nearly $10 billion per year. What most people don’t know is that it’s also a nonprofit organization. Even at that level of income, the NFL is a 501(c)(6) “business league” organization where the vast majority of its earnings trickle down to its 32 teams, which includes the Washington Redskins. Recently, Eleanor Holmes Norton, Washington DC’s non-voting congressional delegate, introduced a bill in the House of Representatives to strip the NFL of its tax-exempt status because it promotes a “racial slur for profitable gain.” Meanwhile, a companion bill to accomplish the…