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Now that college athletes can earn money off their name, image and likeness (NIL) after the NCAA adopted new rules in June 2021, they may find a costly surprise from Uncle Sam.. Money made off of ...
As college athletes make money through NIL deals, they are being reminded that the newfound cash is taxable income and Uncle Sam gets a cut. As college athletes cash in on NIL, tax experts and ...
College basketball players get taxed on NIL deals while the NCAA pockets upwards of $1.2 billion tax-free. Caitlin Clark pays income taxes on NIL. It's time to tax the NCAA, too.
One area of concern from recent NIL bills are the tax implications for student athletes. The NCAA maintains tax-exempt status by claiming its purpose in "fostering amateur athletics." [16] NCAA universities are typically exempt from federal income tax because they are classified as charitable organizations. [17]
An estimated $1.67 billion was spent in 2024 on student-athletes, according to a report from Opendorse, an NIL tech company. Nearly all of that was for men's sports, including $1.1 billion spent ...
NASHVILLE, Tenn. (AP) — Plans for colleges to pay athletes directly for their name, image and likeness deals would run afoul of Title IX, the Department of Education said in guidance issued ...