What does the source have to say about UT's ROI? Are they planning to pay at the same level for next season?
When will the IRS focus on NIL payments?
- Thread starter cloneonledge
- Start date
What does the source have to say about UT's ROI? Are they planning to pay at the same level for next season?
- Mar 27, 2006
- 40,829
- 28,324
- 113
O'Bannon's lawsuit never made it to the Supreme Court. The case that made the Supreme Court was Alston, but even that decision wasn't about NIL. It was about non-cash payments.
The Kavanaugh opinion on the Alston case gave the impression that future suits brought against the the NCAA regarding player compensation would not go the NCAA's way, but it wasn't legally binding.
The specter of the Kavanaugh opinion certainly factored in, but the primary reasons that the NCAA chose to allow NIL in its current form when they did, were the state laws that were going to take effect that specifically barred the NCAA from punishing athletes for profiting from their NIL rights. Florida's law was set to go into effect on July 1, 2021 and the NCAA announced their new policy the day before.
Could the NCAA have fought those laws? Probably. They could have tried to drag it out, but the writing was on the wall that it was only going to delay the inevitable. And a loss in court might have come with additional restrictions or penalties, which they likely wouldn't have wanted to risk.
It’s probably the genesis of it all, I think that’s fair to say.
They are a deduction for the media players, but I don't think the power five conferences are for profit entities.
The IRS is taking the position that donations to NIL collectives are not tax deductible.
kpmg.com
GLAM: Organizations developing NIL opportunities for student-athletes generally will not qualify as tax-exempt
Addressing whether developing paid NIL opportunities for collegiate student-athletes furthers an exempt purpose under section 501(c)(3)
Absolutely should crack down on it. Even in the case of paying players to do charity work - that’s called a paid job. Tax exempt should be limited to actual charities or similar services.The IRS is taking the position that donations to NIL collectives are not tax deductible.
GLAM: Organizations developing NIL opportunities for student-athletes generally will not qualify as tax-exempt
Addressing whether developing paid NIL opportunities for collegiate student-athletes furthers an exempt purpose under section 501(c)(3)
All these gymnastics to avoid paying players they're worth. What a country.
The IRS is taking the position that donations to NIL collectives are not tax deductible.
GLAM: Organizations developing NIL opportunities for student-athletes generally will not qualify as tax-exempt
Addressing whether developing paid NIL opportunities for collegiate student-athletes furthers an exempt purpose under section 501(c)(3)
Anything is deductible depending on how high your risk tolerance is.
People and companies should be able to pay players, but they shouldn’t have tax exempt status in doing so. Nike doesn’t get to have a tax exempt wing they use to pay LeBron for endorsements. Pay players, but don’t use a facade of being a charitable entity to do so.
Anything is deductible depending on how high your risk tolerance is.
Easy way around it:
Pay the athletes as employees of the collective and have the collective concentrate on doing charity work/programs.
Agree and those companies use those payments as Advertising/Marketing expenses.
Well between all the fake companies that get tax exempt status and the corporate tax evasion schemes, it’s only hurting our education, healthcare, and infrastructure because of a lack of funds. So you should care. Each might not make a big dent on anything, but together it’s hundreds of billions of dollars a year.
Ya let's start with the corporations. Targeting the athletes because they have no unions or representation is dumb as ****.