Crowe recently hosted a two-part webinar series focused on the tax implications of the new name, image, and likeness (NIL) rules for colleges and universities. These webinars brought together specialists from our exempt organization tax services team, Jackie McCumber from our Washington National Tax office, and Mit Winter, a leading NIL attorney. The series provided valuable insights and updates tailored to higher education institutions, tax directors, and athletic directors.
In the first webinar, we summarized the timeline of legislative and regulatory developments and recent IRS rulings impacting the NIL landscape. The webinar included a panel discussion that highlighted the impact and potential tax consequences of NIL developments on higher educational institutions, the emergence of NIL collectives, administrative challenges for schools, and the tax implications for both schools and student-athletes depending on the tax treatment of NIL payments.
The second webinar began with updates regarding the proposed House vs. NCAA settlement agreement and other regulatory and legal developments since the first webinar. Our panel then discussed the potential impact of these developments on the taxation of NIL activities. We explored how the size of an educational institution and the extent of its athletic program activities might affect the tax implications of NIL. Additionally, we discussed the distinguishing factors between employees and independent contractors and examined the how the nature of the NIL activities and the payments received might impact the tax character and treatment for both educational institutions and student athletes.
These webinars offer a wealth of knowledge and practical insights to help your organization navigate the evolving landscape of NIL rules.
