Do Your University Clients Have an NIL Strategy? Learn about NIL Rights and Taxation

NIL rights refer to the ability of student-athletes to earn compensation for the use of their name, image, and likeness. This includes activities such as endorsement deals and social media promotions, allowing student-athletes to monetize their personal brand. Learn the definition and scope of NIL rights, the function and structure of NIL collectives, the tax implications for these collectives and the student-athletes, and the antitrust considerations that arise in this context.

Read now »

Related Content

• Name, Image and Likeness (NIL) Agreements
  Reference this practice note addressing the new NCAA regulations and guidance, as well as state laws pertaining to student-athletes' ability to commercially exploit their names, images, and likenesses. The note also identifies key considerations for student-athletes, institutions, and corporate sponsors in NIL agreements.  

• Performing Artists, Athletes, and Other Endorsers Agreements
  Learn more about issues when drafting and negotiating endorsement agreements. In a typical endorsement agreement, an advertiser may pay a celebrity – such as an actor, musician, or athlete – to promote the advertiser’s products or services. The promotion could encompass a wide array of activities, including television commercials, print ads, public appearances, and posts on social media.

Practical Guidance Updates 
Featuring the latest updates from your Practical Guidance account.   

• Tax Key Legal Developments Tracker (Federal)—keep up to date with key legal developments!
  • International Tax. IRS and Treasury issue final regulations that terminate the continued application of certain tax provisions arising from a previous transfer of intangible property to a foreign corporation when the intangible property is repatriated to certain U.S. persons. 89 Fed. Reg. 82160 (Oct. 10, 2024).
  • Employment, Health, and Welfare Plans. IRS issues 2025 increases for the individual income tax standard deduction and COLA increases for health FSAs, transportation fringe benefits, and other limits. Proc. 2024.40.
  • Practice, Procedure, and Controversy. IRS and Treasury release the 2024-2025 Priority Guidance Plan, which is used each year to identify and prioritize tax issues to be addressed through regulations, revenue rulings, revenue procedures, notices, and other published administrative guidance.
  • Exempt Organizations. IRS grants certain applicable entities under IRC Section 6417(d)(1)(A)an automatic six-month extension of time to file an original or superseding Form 990-T, Exempt Organization Business Income Tax Return (and proxy tax under section 6033(e)), with any other relevant schedules and forms (such as Form 3800, General Business Credit, and any relevant source credit forms), to make an elective payment election as provided under IRC Section 6417(d)(3) and  Reg. § 1.6417-2(b) (elective payment election). Rev. Proc. 2024-39.
• Inflation Reduction Act: Tax Provisions Tracker—keep up to date with key legal developments regarding the Inflation Reduction Act of 2022.
• Document alertsallow you to stay current on legal developments that affect your practice. Find out how to set up your document alerts. 
• For Practical Guidance content on important recent trends, please review these easy-to-use Resource Kits on a variety of emerging topics:
  • Chevron Reversal Impact Resource Kit
  • Generative Artificial Intelligence (AI) Resource Kit
  • Environmental, Social, and Governance (ESG) Resource Kit
  • Public Interest, Pro Bono, and Non-Profit Resource Kit

• The Fall 2024 Edition of The Practical Guidance Journal features guidance on the use of AI in employment decisions, AI considerations in acquisition agreements, Chevron deference reversal challenges in FDA rulemaking, 50 years of ERISA pension protection, plus obligations and risks related to the provision of anti-overdose medication in the workplace.
• Browse the Practical Guidance Author Center to see the 2000+ leading attorney authors contributing to our 26 practice areas. Interested in becoming a Practical Guidance author? Click here for details. Practical Guidance is committed to amplifying diverse voices of attorneys across all differences, including gender and race.  
• Legal Developments provide the latest updates and analyses of emerging topics impacting your practice area. Visit the Legal Developments page to see the latest topics, which also include breaking legal news and related Practical Guidance content. 
• Discover New Practical Guidance Content and Resources
  Review this informative guide featuring some of the recent content additions to Practical Guidance, designed to help you find the tools and insights you need to work more efficiently and effectively.

• New and Recently Updated Practical Guidance Content
  • Allocating PTEP in an I.R.C. Section 355 Transaction
  • Partnership Taxation: Liquidating Distributions
  • Partnership Taxation: Current (Non-liquidating) Distributions
  • Section 367(b) Proposed Regulations on Triangular Reorganizations and Inbound Nonrecognition Transactions
  • Tax and Estate Planning for Closely Held Business Interests
  • KPMG Report: Documentation Rules under Final Digital Asset Reporting Regulations
  • KPMG Report: Tax Provisions Expiring in 2025 Affecting Individuals and Families
  • The ABCs of RMDs: A Guide to Required Minimum Distributions IRS Priority Guidance Plan for 2024-2025

PRACTICAL GUIDANCE CUSTOMER EMAIL EDITION ON THE WEB

Experience results today with practical guidance, legal research, and data-driven insights—all in one place.

Experience Lexis+