A proposed merger between the PGA Tour and Saudi-backed LIV Golf prompted some US lawmakers to question its tax-exempt status and at least one bill that would strip it.
Rep. John Garamendi (D-Calif.) introduced legislation that would close the tax code provision that allows the golf tour and other professional sports leagues to claim tax-exempt status. The merger has drawn the ire of some lawmakers who expressed concerns about human rights abuses within the kingdom.
Garamendi’s bill would prohibit tax-exempt status for professional sports leagues.
“The notion that the Saudi Sovereign Wealth Fund would pay zero dollars in taxes on ...
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