03 Dec '17, 5pm

PGA Tour breathes easier after provision to strip its tax-exempt status is removed at last minute from Senate's t...

PGA Tour breathes easier after provision to strip its tax-exempt status is removed at last minute from Senate's t...

The PGA Tour seems to have dodged a bullet in the wee hours of Saturday morning when the Senate’s tax-reform act passed without a provision in it revoking the tour’s cherished tax-exempt status. As late as Friday, a 14-line subsection titled “Repeal of Tax-Exempt Status for Professional Sports Leagues” was still included in the publicly available version of the bill. Although the tour is not commonly thought of as a “sports league,” it is one for the purposes of the legislation, and in the eyes of the Internal Revenue Service. The provision also threatened the tax status of the LPGA and the PGA of America, the latter because it runs golf tournaments such as the PGA Championship, the Women’s and Senior PGAs and the Ryder Cup. But the provision went missing from the final version of the Senate bill. It is unclear who or what was responsible for the disappearance. In the chao...

Full article: https://www.golfdigest.com/story/pga-tour-officials-breat...

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