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Donating to College Athletics: A Taxing Gesture of KindnessTroy LippPace University - School of Law Bridget J. CrawfordPace University School of Law October 10, 2011 Tax Notes, Vol. 133, No. 2, 2011 Abstract: This article considers the tax consequences of a booster's contribution to a college athletics program, using the case study of financier Robert Burton's multi-million dollar contribution to the University of Connecticut football program. This article discusses the income and gift tax issues that arise in connection with gifts made in contemplation of corresponding benefits, as well as the potential tax consequences if a donor subsequently withdraws a gift. Donors who expect a role in a team's affairs may face unfavorable tax consequences.
Number of Pages in PDF File: 6 Keywords: gift, income, tax, deduction, athletics, sports, Burton, UConn, Connecticut, Huskies JEL Classification: K1, K34 Accepted Paper SeriesDate posted: October 10, 2011Suggested Citation |
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