US federal bill proposed to eliminate tax exempt status from PGA

[LadyStanley]

PGA Tour's tax exemption faces new challenge

A new federal bill was proposed Wednesday by Senate Finance Committee chairman Ron Wyden (D-Ore.).

theathletic.com

A new federal bill was proposed Wednesday by Senate Finance Committee chairman Ron Wyden (D-Ore.). The bill, The Sports League Tax-Exempt Status Limitation Act, would modify the 501(c)(6) designation in the tax code to exclude sports organizations with assets exceeding $500 million

PGA has $3B in assets.

Might impact more than PGA in the future

Click to read more...