GOP tax bill hits college, pro sports

Season tickets might lack the tax deduction that is generally attached to them. The new republican tax bill has taken aim at a major perk for season ticket holders in basketball and football. In the bill introduced Thursday, the donation that is made to obtain the tickets will lose its tax deductibility.

Pro athletes hit by GOP’s tax bill 1:49 PM ET Mon, 18 Dec 2017 CNBC’s Eric Chemi reports that professional athletes could see a financial hit if Congress passes the GOP tax overhaul bill.

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Businesses also take several hits. Owners of limited liability corporations and other small and mid-sized businesses that don’t pay the state corporation tax will pay. t materialize? The GOP leader.

The GOP tax reform bill released last week would bar state and local governments from issuing tax-exempt bonds for stadium construction, a common feature of stadium deals over the past two decades.

K Fund donations may no longer be tax deductible with new GOP bill. This will be a major hit to college athletic departments – and financing pro stadiums – if it passes. The news story notes donations to college athletic departments and related booster clubs totaled $1.2 billion in 2015.

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The GOP tax reform bill released last week would bar state and local governments from issuing tax-exempt bonds for stadium construction, a common feature of stadium deals over the past two decades.

GOP Tax Bill Would Have Impact On Pro, College Sports November 7, 2017 at 9:16 pm Filed Under: Colleges , GOP tax reform bill , sports , Stadium Construction , Stadiums , tax-exempt bonds Five things home buyers should never say 4 things homebuyers should never say – CBS News – 4 things homebuyers should never say.

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A tax reform bill that will likely soon be signed into law will have a huge effect on the world of college sports and the fans who donate to them. The proposed changes to the tax code include the elimination of a tax break that benefits major athletic programs. Currently, donations made to certain.

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