By: Amanda Wilson
Earlier this year, I posted about the possibility that the NFL may lose its tax exempt status. The NFL has decided instead to give up its tax-exempt status. It has been estimated that the tax-exempt status only saved the NFL about $10 million a year. Although this is a significant number to me, it is relatively minor for the NFL.
Surrendering tax-exempt status helps the NFL avoid the bad press associated with a billion dollar industry being a tax-exempt organization (although almost all of that revenue was distributed to the teams which do pay taxes). It also allows the NFL to protect the salary of its top executives. As an exempt organization, the NFL was previously required to disclose the salary of the NFL commissioner ($35 million for 2013 season).
