August 10, 2009
Tax on College-Sports Sponsorships Could Raise Federal Revenue, Congressional Report Says
Uncle Sam could be $200-million wealthier in the next decade if colleges were to pay taxes on money they make from certain corporate sponsorships, a new report says.
If colleges paid taxes on the money they make by granting companies the naming rights to football stadiums and marquee sports events, the government could raise $86-million in the next five years and more than $207-million by 2019, says the report, released last week by the Congressional Budget Office, a nonpartisan
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