Madden NFL 24 Madden NFL 24 has received tax-exempt status as it's an "trade organization" The teams technically take the profits that the league earns and return it to the league in dues. The teams pay taxes but the league itself isn't. But, claiming that the Madden NFL 24 will be equivalent to a union or charitable group is patently absurd. Even though non-profit organizations can make claims that they are legitimate However, the Madden NFL 24 was able to report almost $9 million in 2012. The league reported nearly $327 million in total revenues and paid commissioner Roger Goodell $44 million.
It's not just a Madden NFL 24 problem. The NCAA who claims to have a nonprofit status because of its efforts in helping student-athletes and their families, raked in $871.6 million in 2012 and is now spending record amounts lobbying efforts to block those athletes from receiving the money. Even small foot races that are awash with huge amounts of money, which include extravagant excursions and pay organizers lavishly are claiming nonprofit status.
It's about time to get rid of the facade.
Tax-exempt status is meant to be granted to those who have a goal other than making money, and specifically ones that are trying to help the public in their pursuit. In spite of this week's issues, Madden NFL 24 has proven that it's only focussed on making money while also benefitting its teams. USA Today pointed out:
"If there is a justification in granting tax exemptions to businesses, it would be they operate for the public purpose of aiding commerce to all people within a broad segment of some kind of business or general" said (Philip) Hackney who is and an LSU law professor who had previously was an IRS attorney who argued tax-exempt organization issues. "Commerce is vital to our nation, and we should encourage those who are engaged in it in a public way. These (sports) organisations, in my opinion, are not public-minded, despite their interest in profit. They are focused on making money associated with their franchises."
There is a misguided tendency to see sports organisations as entities that transcend the business world that are committed to the larger good. In reality, that's simply a figment of the imagination. In reality, Madden NFL 24 is not concerned with the public good and maintaining a moral standard. The NCAA is not full of coaches hoping to safeguard athletes from consumerism. Your local marathon is probably not giving more to charity than you believe it is.
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