I’m not saying it’s hard to figure out, I’m saying it may not be all it’s cracked up to be. Collectives aren’t going to get nonprofit tax exemptions the way season tickets and donations can/used to. And how that $8 mill package is represented before taxes during the recruiting pitch may hit a bit different for the kid and his family when that tax bill comes due the following Spring.

It’s just something to follow for all athletes and collectives (not just UT) as the Spring unfolds

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Posted by psk_Vol

Nashville

Member since Jan 2012

3824 posts

Posted on 3/21/22 at 3:58 pm to tylerdurden24

I gotcha. Will be a good life lesson to all athletes with NIL deals to learn about Uncle Sam at an early age. My hope and expectation is that these universities will provide athletes with every resource to find CPAs that will ensure they are in compliance with the IRS. 8 mil after taxes is still a hell of a haul for a college student.

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Posted by Loganville Vols

Loganville Georgia

Member since Feb 2021

873 posts

Posted on 3/22/22 at 6:14 am to tylerdurden24

At least Tennessee doesn’t have a State Income Tax.

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