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Sunday
Dec032017

Florida Prilosec Shortage Averted: Pro Tours Retain Tax-Exempt Status In Senate Bill

Since this CNBC story hit last week reporting the potential Senate tax bill inclusion of a giant headache for golf's professional organizations, heartburn and acid reflux medicine has been flying off the shelves in greater Daytona Beach, Ponte Vedra Beach and West Palm Beach.

While we don't know if this shortage was tied to the possibility of losing 501(c)(6) status for the PGA Tour, LPGA Tour and PGA of America, things should return to normal after some Senator struck language sometime Friday. The bill was voted on Saturday morning without language that would have done untold damage to the business operations of the tours and potentially to the PGA of America.

My Golfweek story here on the language in the bill and what this might have meant. Not included are insights into the thousands of messages between tours and lobbyists in the frantic moments leading to the final legislation shaping.

Here is a final version of the bill, minus all of the pork written into the margins.

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Reader Comments (2)

The NFL gave up its tax exempt status in 2015.

http://time.com/3839164/nfl-tax-exempt-status/
12.3.2017 | Unregistered CommenterOWGR Fan
OWGR, the NFL can do it though because it basically flows all of its money through the franchises, which never were tax-exempt. The NFL gave it up so they did not have to report Roger Goodell receiving $44 million in salary.

The PGA Tour is vastly different in that, IMHO, the 501(c) is the bamboo holding the house of cards together.
12.4.2017 | Unregistered CommenterPat(another one)

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