Tax Implications of Name, Image, and Likeness (NIL) Rights and Collectives

Summary

This practice note addresses the legal and tax framework governing name, image, and likeness (NIL) rights and collectives for student-athletes under U.S. law. It covers the scope of NIL rights, the role of collectives, the post-settlement Division I compensation framework, antitrust developments, federal tax-exemption issues, and federal and state tax consequences for student-athletes.