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Tax effects of the new NIL landscape in college athletics
June 18 @ 1:00 pm – 2:00 pm EDT
Free
1 CPE credit
Event details
The college athletics landscape continues to shift toward educational institutions getting directly involved in name, image, and likeness (NIL) rules and revenue-sharing arrangements with student-athletes.
This webinar will address tax considerations for educational institutions due to changes in NIL rules as well as shared responsibilities for tax directors and athletics departments to help address issues and minimize risks in this changing environment.
Learning objectives
After participating in this session, attendees should be able to:
- Summarize the recent legislative and regulatory activity surrounding changes to the NIL rules and the associated impact of these changes on colleges and universities with athletic programs
- Identify potential tax-exempt status and private benefit issues that might arise from compensating student-athletes for their name, image, and likeness
- Recognize various potential tax implications related to NIL activities, including unrelated business income tax under IRC Section 512, tax on excess tax-exempt organization executive compensation under IRC Section 4960, individual income tax issues for student-athletes, payroll tax obligations, withholding requirements, reporting considerations, and state and local income, property, and other tax issues
