[chrisk]

Non-profit organizations receiving tax exempt status under IRC Section 501©(3) can include organizations with purposes that are religious, charitable, scientific, for public safety, literary, educational, fostering national or international amateur sports competition, or for the prevention of cruelty to animals or children.

IRS CONTINUES CRACK DOWN ON NIL COLLECTIVES’ ATTEMPTS AT TAX-EXEMPT STATUS

https://www.ustaxdisputes.com/nil-collec...-scrutiny/

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3.Creating a system to ensure that third-party name, image and likeness deals entered into with student-athletes are legitimate deals that will use the student-athlete's NIL to advance a valid business purpose.

4.Forming a new entity to enforce these rules with an emphasis on efficient investigative procedures, timely decision-making, appropriate penalties, and ensuring accountability for bad actors.

This I got to see. A justice system created instantly from whole cloth that is actually going to work flawlessly to enforce regulations that are not yet written! What a concept! I think they should add ending both the Ukraine and Gaza war for a good measure.

We are all cynical, but it will be years before the Spreme Court would hear this settlement, let alone overturn it.
In 3 or 4 years, Congress may be in a position to codify it into law. In the meantime, if the major schools, such as those represented on the committee, lean into it, it could last then.

[chrisk]

Non-profit organizations receiving tax exempt status under IRC Section 501©(3) can include organizations with purposes that are religious, charitable, scientific, for public safety, literary, educational, fostering national or international amateur sports competition, or for the prevention of cruelty to animals or children.

IRS CONTINUES CRACK DOWN ON NIL COLLECTIVES’ ATTEMPTS AT TAX-EXEMPT STATUS

https://www.ustaxdisputes.com/nil-collec...-scrutiny/

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3.Creating a system to ensure that third-party name, image and likeness deals entered into with student-athletes are legitimate deals that will use the student-athlete's NIL to advance a valid business purpose.

4.Forming a new entity to enforce these rules with an emphasis on efficient investigative procedures, timely decision-making, appropriate penalties, and ensuring accountability for bad actors.

This I got to see. A justice system created instantly from whole cloth that is actually going to work flawlessly to enforce regulations that are not yet written! What a concept! I think they should add ending both the Ukraine and Gaza war for a good measure.

We are all cynical, but it will be years before the Spreme Court would hear this settlement, let alone overturn it.
In 3 or 4 years, Congress may be in a position to codify it into law. In the meantime, if the major schools, such as those represented on the committee, lean into it, it could last then.