New Tax Plan Will Be Costly For LSU Season Ticket Holders
You might not think there is a strong connection between the recently passed tax reform measures and season ticket holders for LSU sporting events. But there is. It comes down to a simple word. That word is deduction.
Donations to athletic funds and foundations such as the Tiger Athletic Foundation have been deductible for federal income tax filing. Those who donate can get an 80% tax deduction for their generosity. Under the new GOP supported tax plan, those deductions are no longer going to be allowed.
This has officials at LSU concerned about season ticket sales for their major sports programs. That's because membership in the T.A.F. is required just to have the right to purchase a season ticket. If fans reduce and cancel their membership donation, they could be giving up their season tickets.
Athletic Director Joe Alleva has gone on record as saying the tax reform could lead to a $50-million dollar or more loss for LSU Athletics.
However, not all is doom and gloom. The hope is that while the donation may no longer be tax deductible the other tax savings in other areas of life and commerce will allow fans to still afford the cost of TAF membership and the season tickets. Basically, it's just moving money around on a spreadsheet or from one bucket to another.
I believe real fans will find a way to afford tickets. They always have and they always will. If the team is winning. This is college football an entity that appears to be a lot stronger and more stable than the government sometimes.