Federal SB5661 amends the Internal Revenue Code to ensure equal taxation for professional sports franchises under employee remuneration limitations.

Federal SB5661 amends the Internal Revenue Code of 1986 to establish parity in the taxation of professional sports franchises. It modifies the limitation on the deduction for certain employee remuneration to include individuals who perform services in the field of athletics. This change ensures that professional sports franchises are taxed equally under the specified conditions. The amendments apply to taxable years beginning after December 31, 2026.

Federal SB5661 amends the Internal Revenue Code to ensure equal taxation for professional sports franchises under employee remuneration limitations.

Federal SB5661 amends the Internal Revenue Code of 1986 to establish parity in the taxation of professional sports franchises. It modifies the limitation on the deduction for certain employee remuneration to include individuals who perform services in the field of athletics. This change ensures that professional sports franchises are taxed equally under the specified conditions. The amendments apply to taxable years beginning after December 31, 2026.