Author Topic: GOP Tax Bill Sticks it to UB  (Read 167 times)

November 03, 2017, 01:18:43 PM
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BrooklynBull

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GOP Tax Bill Sticks it to UB
« on: November 03, 2017, 01:18:43 PM »
When Danny White changed the ticket structure a few years ago people were able to get a tax deduction for 80% of the required donation to obtain better seats for football and basketball.  Well the proposed tax bill will make those payments undeductible in the future.  This can hurt UB and all other colleges that use a similar system for selling tickets.

http://www.newsobserver.com/news/politics-government/politics-columns-blogs/under-the-dome/article182403556.html

By the way for those hoping for a new stadium for the Bills downtown will be disappointed by the bill as well.  The sale of municipal bonds that are tax free for federal taxes will no longer be federally tax free.  Only way to make them tax free is if the Bills were to use any new facility for no more than five days a year.  That would leave open the possibility of a new stadium for UB and another for the Bills where they only play five home games in each.  The problem would be if and when the Bills ever make the playoffs again.  Then they would have to play a sixth game in one of the facilities impacting the ability to sell municipal bonds that are triple tax free in New York.