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  • 2 weeks later...

Senator introduces bill to strip PGA Tour's tax-exempt status

 

A senator from Oregon introduced legislation this week that would strip the PGA Tour of its tax-exempt status.

 

U.S. Sen. Ron Wyden (D-Ore.), chair of the Senate finance committee, introduced two bills Wednesday, the Sports League Tax-Exempt Status Limitation Act and the Ending Tax Breaks for Massive Sovereign Wealth Funds Act.

 

The PGA Tour is a 501(c)(6) organization, a status allowing tax exemptions for professional sports leagues and chambers of commerce. Wyden's concern is the Tour's tax-exempt status as a 501(c)(6) organization and how that would change if the proposed framework agreement creates a for-profit entity between the Saudi Arabian Public Investment Fund and PGA Tour.

 

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