By Manatee Review |
Dec 18, 2023
Congressmen Vern Buchanan (R-FL) and Mike Thompson (D-CA) have introduced legislation to revoke the tax-exempt status of the PGA Tour. The PGA Tour, currently classified as a 501(c)(6) nonprofit organization, does not pay federal corporate income taxes. The introduction of this legislation comes after the PGA's decision to merge with Saudi-backed LIV Golf, forming a single for-profit entity.Congressman Buchanan expressed his concerns about taxpayer subsidies for the PGA's tax-exempt status, stating, "With billions of dollars in annual revenue and record profits streaming...