You may supporting something criminal without knowing it
Nov 16, 2012 - by Steve Gerweck
Pro Wrestling Syndicate which is a legit registered partnership (between co owners Eric & Pat) recently had a meeting in Newark NJ at the offices of The NJ Department Of Taxation. At this meeting, PWS filed its quarterly taxes to the state of New Jersey. PWS is the ONLY wrestling promotion in the state of New Jersey that files the MANDATED taxes, thus meaning PWS is the only wrestling promotion that operates in the state of New Jersey whom is doing so 100% legally. As quoted directly from the tax investigators “no other promotion in the state of New Jersey is operating legally and we will be taking action against them in the coming weeks and months ahead”.
The State Of New Jersey has what’s known as an “Entertainment Tax”. This is a real government issued tax which live wrestling falls under the category of. This is completely separate from federal income taxes (which PWS pays as well). This tax law states that any promoter running a pro wrestling event within the state of New Jersey must pay 7% of face value of all tickets sold and 7% of face value of all tickets given away. This adds up fast and has zero to do with if the promotion made money or lost money on the show itself. A company like National Pro Wrestling Superstars run by “Dapper” Joe Panzarino (whom phones The Rahway Rec Center regularly attempting to get PWS shows shut down) runs approximately 40 shows per year in the state of New Jersey for the past decade and has not paid this tax ever. Ring Of Honor for instance has run 35 shows in the state of NJ. Let’s use National Pro Wrestling Superstars as an example. Let’s lowball with round numbers. Let’s say their average show draws 300 fans at $20 each, that’s $6,000, multiplied by 7% is $420. Multiply that $420 by 40 shows a year, and multiply that number by 10 for the ten years they’ve been doing this and you get $168,000 owed in NJ State Taxation. That’s an astonishing figure.
How is it fair for people that work hard for their money to pay taxes, meanwhile a wrestling promoter may owe in excess of $168,000? It’s not. It’s criminal. It is blatantly criminal that wrestling promotions are not paying taxes meanwhile its fans whom attend and support these promotions have to pay tax. It is criminal and honestly it’s un American, it’s cheating the government and it’s cheating everyone. These tax dollars go towards beneficial things such as public school, medical research, corrections, public assistance, public transportation, and defense & security.
PWS is not trying to be the police of the indy scene by any means or whistle blow on anyone, although we do believe in telling fans the truth at all times as we love and respect our fans. We do not post Facebook messages asking fans to loan us insurance policies, we do not insult our fans’ intelligence by not welcoming their opinions, and we certainly want to inform our fans that while they are paying tax dollars, every promotion that runs a live event in the state of New Jersey other than PWS has not filed with the NJ State Taxation Department.
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