Senate Bill To Nix NFL Tax Exemption Gains New Sponsor

Law360, New York (January 29, 2014, 6:16 PM EST) -- Days before the Super Bowl, U.S. Sen. Angus King, I-Maine, announced Wednesday that he was throwing his support behind legislation that would prevent the National Football League and other professional sports leagues from continuing to qualify their league offices as tax-exempt organizations.

The bill, introduced in September by Sen. Tom Coburn, R-Okla., would amend the Internal Revenue Code to prohibit professional sports organizations with annual revenues in excess of $10 million from claiming tax-exempt status as a 501(c)(6) industry trade associations or public interest group....
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