By: Tate Thompson and Curry Sexton

In the absence of uniform laws from Congress or a more robust policy from the NCAA, states continue to look for ways to help their institutions compete in the name, image, and likeness (NIL) “arms race.” One way is for states to implement progressive NIL laws.  Effective August 28, 2023, Missouri institutions will be able to arm themselves with arguably the most progressive state NIL law in the country. H.B.417, which was recently signed by Governor Mike Parson, significantly amends Missouri’s prior NIL law. As a result, Missouri institutions and the student-athletes who attend them, will likely benefit greatly following the most recent amendment.

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By: Tate Thompson and Curry Sexton

In a June memo released by the Office of the Internal Revenue Service (IRS) Chief Counsel, the IRS announced its position that, in most cases, it does not believe name, image, and likeness (NIL) collectives qualify as tax-exempt organizations under the Internal Revenue Code (IRC). Although not legally binding, the decision will likely have a significant impact on existing NIL collectives organized as nonprofits and granted tax-exempt status by the IRS.

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