Revoke NFL Tax-Exempt Status, Republican Lawmaker Says

The NFL, the nation’s  number one sports league with about $9 billion in annual revenues, has been operating as a not-for-profit, tax-exempt entity. Rep. Jason Chaffetz (R-Utah) has proposed legislation to change that, closing what he calls a loophole, one which allows the NFL to be considered a trade organization. The legislation would require any pro-sports league with revenues above $10 million to be treated as a taxable entity, a move that Chaffetz estimates could increase federal revenue by $109 million over 10 years.