It's been reported that Madden 24 coins has received tax-exempt status since it's as a "trade organization" -- the teams technically receive the revenue the league generates, then return it to the league in dues. The teams have to pay taxes, but the league itself isn't. But to claim that the Madden NFL 24 can be similar to a labor union or a charitable organization is completely absurd. Even though nonprofit organizations can claim most unnecessary expenses as legitimate The Madden NFL 24 did report an impressive profit of nearly $9 million in 2012. It posted nearly $327million in total revenues and paid Commissioner Roger Goodell $44 million.
But this isn't only a Madden NFL 24 problem. The NCAA also claims non-profit status for its efforts to aid student-athletes and their families, raked in $871.6 million in 2012 and is now investing record amounts in lobbying to block these same athletes from getting the funds. Even small foot races that have huge sums of money, which include extravagant trips , and pay organizers a hefty sum they claim that they are nonprofit.
It's time for us to stop the façade.
Tax-exempt status is intended to be granted to those who have a goal other than earning a profit, particularly ones who seek to aid people in their work. Even discounting this past week's incident, Madden NFL 24 has proven that it is solely focused on making a profit while also benefitting its teams. USA Today pointed out:
"If there's a rationale of tax exempting business leagues, it will be that they serve the public benefit of encouraging commerce across broad segments of a kind of business or general" stated (Philip) Hackney, and an LSU legal professor, who was an IRS attorney, a tax lawyer who dealt with exempt-organization tax questions. "Commerce is essential for our country and Buy Madden 24 coins we should encourage those who are working on it in a rather publicly minded manner. These (sports) organizations, in my opinion, aren't public-minded at all in their interest in profit. They have their sights set on the earnings for their franchises."
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