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Coaches' Pay Likely To Dodge New Tax Unless Congress Acts, Law360

January 16, 2019

Morgan Lewis partner Alex Reid speaks with Law360 about the Internal Revenue Service’s interim guidance that said public universities with determination letters from the IRS recognizing their tax-exempt status are subject to a 21% excise tax. He explains in the article that if a sports coach, often a top earner at a public university, earns more than $1 million but the state college does not have a determination letter, then the school will not have to pay the 21 percent excise tax on amounts above $1 million.

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