CIB expects to lose money during Super Bowl

[BLeonard]

Living in Indiana, obviously, we've had a lot more information regarding the Super Bowl in our local and state news this year. Thought this was interesting, as it shows that not everyone involved with the Super Bowl ends up profiting from the game happening in their city or state: http://www.ibj.com/cib-expects-to-lose-money-during-super-bowl/PARAMS/article/31969



Hotels and restaurants, however, won’t be taxing National Football League employees. They’re exempt from paying, according to an Indiana Department of Revenue directive.

The NFL is using its tax-exempt status as a 501(c)(6) to avoid paying the taxes, in addition to fuel, auto rental and admissions taxes. The NFL needs to have an account established at a business, hotel or restaurant to take advantage of the perk, the directive said.

CIB also won’t receive food-and-beverage tax money from concessions sold inside Lucas Oil Stadium and the Indiana Convention Center as it normally does. Instead, the National Football League will pocket that chunk of change.

The NFL, though, has agreed to reimburse CIB $4.1 million for labor costs associated with game events, helping to shave the projected shortfall to $810,000.


-Bill

[better days]

Living in Indiana, obviously, we've had a lot more information regarding the Super Bowl in our local and state news this year. Thought this was interesting, as it shows that not everyone involved with the Super Bowl ends up profiting from the game happening in their city or state: http://www.ibj.com/cib-expects-to-lose-money-during-super-bowl/PARAMS/article/31969



-Bill

Those Republican Lawyers the NFL has are slick.

[Johnny Bugmenot]

Those Republican Lawyers the NFL has are slick.
There's a reason Roger's daddy got run out of office by a third-party candidate. The Goodell family is a bunch of corrupt weasels.

[stuckincincy]

Those Republican Lawyers the NFL has are slick.


??? There must be all of 5 Republican lawyers in the entire nation. The rest are Democrats who will take $ from anybody for any reason...

[better days]

??? There must be all of 5 Republican lawyers in the entire nation. The rest are Democrats who will take $ from anybody for any reason...

NONSENSE, many polititions from both parties are lawyers & both will take money from anyone for any reason.

The Republicans just take it in MUCH larger sums at a time. In comparison, Democratic lawyers get peanuts.

[THATHURMANATOR]

What is CIB?

[hemi13]

??? There must be all of 5 Republican lawyers in the entire nation. The rest are Democrats who will take $ from anybody for any reason...


YES, I AGREE!!!
I think it's John Edwards firm that works for the NFL.

[EricStratton]

What is CIB?


The Capital Improvement Board of Marion County

[DraftBoy]

Oh for Christ sake this has nothing to do with Republicans or Democrats.

[better days]

Oh for Christ sake this has nothing to do with Republicans or Democrats.

It has to do with tax loopholes that Republicans created.

[PromoTheRobot]

??? There must be all of 5 Republican lawyers in the entire nation. The rest are Democrats who will take $ from anybody for any reason...
Ha ha ha. You believe that? Come to NH.

PTR

[ThunderGun]

It's Obama's fault.

/sarcasm

[BLeonard]

Not trying to get too political here, but for anyone interested, Indiana is traditionally a Rebublican state...

Our current Governor, Mitch Daniels, is trying to make Indiana a "Right To Work" state, which is a hot-button topic. Dems are trying to put RTW on the ballot for everyone to vote on in November, but the Repubs aren't having it, most likley, because they know it will be voted down. The Repub's refusal to even discuss amendments to RTW has resulted in the Dems walking out of the Stet House in protest.

Like I said, just info for anyone wanting it on the state of Indiana, not trying to turn this into a political debate.

-Bill

[BLeonard]

Here's an article on the RTW debate and how Republicans are wanting it done before the Super Bowl: http://news.firedoglake.com/2012/01/10/indiana-democrats-walk-out-again-to-protest-right-to-work-legislation/



However, Democrats are protesting the idea that House bill 1001, the right-to-work bill, made it out of committee at all, because Republicans never held a formal hearing on it. There was a hearing in the Senate Labor Committee, but not the House. There’s also a question as to whether the meeting in the Labor Committee violated open meetings rules in Indiana, in a reminder of the open meetings rules violations in Wisconsin, which derailed but ultimately did not bring down their anti-union bill.

One Democrat, Rep. Craig Fray, said of the boycott that “We have to keep fighting all the way to the Super Bowl,” and that does loom large in this fight. The Super Bowl will be held in Indianapolis, and Republicans are on the record wanting to avoid having this issue hanging out there during Super Bowl week, given all the national media attention. The NFL Players Association has already denounced the right-to-work bill.


-Bill

[Goobylal]

Lawyers and liberals have ruined this country. That is all.

[Stewie]

Section 501(c)(6) of the Internal Revenue Code provides for the exemption of business leagues, chambers of commerce, real estate boards, boards of trade and professional football leagues, which are not organized for profit and no part of the net earnings of which inures to the benefit of any private shareholder or individual.

"Not for profit"

What a ****ing joke. Ha ha I'm laughing.

[BLeonard]

Section 501(c)(6) of the Internal Revenue Code provides for the exemption of business leagues, chambers of commerce, real estate boards, boards of trade and professional football leagues, which are not organized for profit and no part of the net earnings of which inures to the benefit of any private shareholder or individual.

"Not for profit"

What a ****ing joke. Ha ha I'm laughing.

Yep... Was wondering when someone would pick up on that.

-Bill

[MikeInRoch]

That's a very slanted article. Their "losses" are really money they were hoping to get, not money they actually had that they are losing. Having the Super Bowl there isn't decreasing their budget.

[MattyNH]

So if you could open an account at some place and as a result avoid paying taxes would you do it? Keep in mind you would be playing by the rules and not breaking any laws.

[Jan Reimers]

What in the world does this thread have to do with Bills' football?

[Extremebillsfan247]

What in the world does this thread have to do with Bills' football?Best post in this thread. JMO :biggrin:

[HAMMER]

Good, Super Bowls don't belong in the Midwest. Why would you have a Super Bowl anywhere but Florida or California? Who wants to take vacation time, spend 5K on flights, hotel, and tickets to be in a Indiana? or Michigan?

[better days]

Good, Super Bowls don't belong in the Midwest. Why would you have a Super Bowl anywhere but Florida or California? Who wants to take vacation time, spend 5K on flights, hotel, and tickets to be in a Indiana? or Michigan?

Or Dallas or New Jersey.