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National Football League Tackles Taxpayers with Carve-outs, Subsidies

Despite the National Football League's (NFL) annual revenue exceeding more$10 billion, the NFL is considered to be a non-profit group exempt from federal taxation — and some critics are crying “foul.” Section 501 of  the United States Internal Revenue Code exempts “business leagues, chambers of commerce, real-estate boards, boards of trade, or professional football leagues” from taxation on net earnings, as they are “not organized for profit.” While the NFL's 32 individual clubs do pay...

Reforms, Reports Improve Snapshot of States’ Public Pension Outlooks

Ohio, New Hampshire and Tennessee appear to have significantly improved their public pension funding in Fiscal Year 2013, as measured by Truth In Accounting’s (TIA) metrics. However, it’s important to determine how and why these improvements occurred. Did they contribute more money to their pension funds? Did they adjust benefits, decreasing their liability? Is there an alternative, more arcane reason for the measured improvements? In Ohio, the underlying answer is quite simple: lawmakers...

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