News: Kiplinger ranking 32 NFL teams for best tax advantage for players

[GenoT]

LOL...not at all Geno ( couple screwdrivers a day takes care of that)

MY man, Hawk! Your stock just went WAY up, here at House of Bloody Mary!

Here’s to ya, pal!

 

[Hawkeye0202]

It only seems like it is based on residency because the vast majority of people work in the state they live.

I've had to pay state income taxes in states I don't live in myself. I live in Texas, but used to spent a lot of time working in New Mexico and Colorado, and have had to pay state income taxes there. But the effect of it is overblown by some on this site because some are treating it as if half of a player's income is earned out of state because 8 games are at home, and 8 games are on the road. That's a false viewpoint because NFL players don't only work 16 days a year.

Here's the state of Georgia state income tax filing requirements.........



Part-year Residents 1. If you are a legal resident of Georgia for only a portion of the tax year and are required to file a Federal income tax return, you are required to file a Georgia income tax return. 2. Part-year residents who claim a credit for taxes paid to another state for income earned while a resident must include a copy of the individual income tax return filed with that state(s) with their Georgia return. Otherwise the credit will not be allowed. Nonresidents 1. Nonresidents who work in Georgia or receive income from Georgia sources and are required to file a Federal return are required to file a Georgia income tax return. 2. Legal residents of other states are not required to file a Georgia tax return if their only activity for financial gain or profit in Georgia consists of performing services for an employer as an employee where the wages for such services does not exceed the lesser of five percent of the income received from performing services in all places during the taxable year or $5,000.

 

[Bigdog]

Yeah this list is a little misleading because there are also other taxes to consider. I have lived in NY, MA, and presently CA. All are pretty high tax states but NY to me is by far the highest tax state. You could have a state sales tax, county sales tax, city sales tax, village sales tax, school tax, etc. The one thing about NY with all their high taxes they do put it back towards the community like schools, roads, libraries, services for the community. CA it is put in one large pot and then state depts take from there. When it is gone it is gone.

 

[Diehardblues]

Notice a few questions regarding the effect of state taxes for players on a no-state tax team. Please note, these players pay NO state income tax but are subject to many other local and state taxes.

https://www.kiplinger.com/slideshow...ate-taxes-will-nfl-free-agents-pay/index.html

Very informative site.

Interesting Texas ranked highest in taxes amongst the state income tax states mainly because of high property taxes including several of the fastest growing counties and areas in the nation like Collin County where Frisco is located.

Texas state legislature is also proposing to increase state sales tax which including county and city could raise it to 10% . Texas already has some of the highest excise taxes on alcohol and of course is still illegal to consume recreational marijuana which in this era of professional athletes must be a huge negative.

 

[Diehardblues]

Yeah this list is a little misleading because there are also other taxes to consider. I have lived in NY, MA, and presently CA. All are pretty high tax states but NY to me is by far the highest tax state. You could have a state sales tax, county sales tax, city sales tax, village sales tax, school tax, etc. The one thing about NY with all their high taxes they do put it back towards the community like schools, roads, libraries, services for the community. CA it is put in one large pot and then state depts take from there. When it is gone it is gone.

Yea Texas is known for their great highways but near the bottom of the country in healthcare, schools and federal assistance not to mention mass transit and public transportation.

Texas is basically a business friendly state. Great to be rich in and one of worst to be poor in.

 

[Hardline]

Texas makes up for not having a state income tax with outrageous property taxes.
I wouldn't live anywhere else though.

 

[GimmeTheBall!]

Notice a few questions regarding the effect of state taxes for players on a no-state tax team. Please note, these players pay NO state income tax but are subject to many other local and state taxes.

https://www.kiplinger.com/slideshow...ate-taxes-will-nfl-free-agents-pay/index.html

And all of it goes out the window when you consider endorsement deals and high media visibility in L.A. and N.Y.C as opposed to Jacksonville and Tennessee.

 

[GimmeTheBall!]

Yea Texas is known for their great highways but near the bottom of the country in healthcare, schools and federal assistance not to mention mass transit and public transportation.

Texas is basically a business friendly state. Great to be rich in and one of worst to be poor in.

And Zika is getting closer to Texas.

 

[GimmeTheBall!]

Also to be clear nfl players pay state income tax for away games.

That is amazing. And doesn't seem fair. If a salesperson sells merch in Texas and travels elsewhere to sell, he or she are still taxed the same income tax wise, Right?

 

[GimmeTheBall!]

That is amazing. And doesn't seem fair. If a salesperson sells merch in Texas and travels elsewhere to sell, he or she are still taxed the same income tax wise, Right?

Right!!!!??????
Answer Makto!!!!
Hollah and brings me a dollah!

 

[Kaiser]

This site didn't indicate that though. It merely factored that into the overall tax situation for players with each team. According to the ranking, some of the higher sales tax areas, like Collin County where "The Star" is located, still left players with those teams in more favorable tax situations than most because not having a state income tax far outweighed the high sales tax. Of course, it's also a little bit of a skewed factor because I doubt very much that every player lives in Collin County.

But sales tax isn't an issue, period. The average NFL salary is 2.7 Million and it isn't going to register on the player if they buy groceries or clothes with a sales tax of 0% or 5% or 15%. It would a bit if they are buy cars or jewelery but its a small factor in that case and even then, it may not be in the County they live in.

 

[Kaiser]

Yeah this list is a little misleading because there are also other taxes to consider. I have lived in NY, MA, and presently CA. All are pretty high tax states but NY to me is by far the highest tax state. You could have a state sales tax, county sales tax, city sales tax, village sales tax, school tax, etc. The one thing about NY with all their high taxes they do put it back towards the community like schools, roads, libraries, services for the community. CA it is put in one large pot and then state depts take from there. When it is gone it is gone.

I've lived in LA for 25 years and the thing that gets me is that every year there is a ballot initiative saying "the public school are falling apart, we desperately need to pass this bond measure to stay afloat, but this will fix everything forever". And they have that every single year.

 

[Tabascocat]

Meh, it is a minimal advantage wherever someone plays since half of the games is actually in that state. The worst scenarios are if a player lives in Cali or NY AND plays for a team in that state. They make enough money for it not to be much of a worry though.

Texas may seem like an advantage but property taxes make up for it. I have a home in Orange County and Houston, talk about a double whammy

 

[Toruk_Makto]

That is amazing. And doesn't seem fair. If a salesperson sells merch in Texas and travels elsewhere to sell, he or she are still taxed the same income tax wise, Right?

"Athletes file taxes not only in their home state but also in every state—and some cities—in which they play. Not every state uses the same calculation to determine what portion of an athlete’s income to tax, and some use different calculations based on the sport. For example, Pennsylvania taxes baseball, basketball and hockey players on the ratio games in the state over total games played, including pre- and postseason, but they tax football players based on days worked in the state over total days worked. Michigan uses the same method but excludes the preseason. Most other states use the days worked method. Arizona uses that method but excludes days worked in the pre-season (otherwise MLB would be shopping for a new spring training home)."

https://www.forbes.com/sites/kurtba...are-reminder-of-how-complicated-u-s-tax-code/

 

[Toruk_Makto]

Are you sure? State income is based on residency ( full or part-time ). It's why the question is asked on all state income tax returns. Unless you know something I don't, pretty sure a player with an established full-time home residence in a no state income tax city does not pay any state income tax. "Away" games have no bearing on this. Players are paid via their home base team ( Bucs, Texans, Seahawks etc.). Visiting another team/city has no impact on their income with regard to state taxes as long residency was never established. Again, if there's something missing/off base, I'm all ears.......lol

Yes I'm sure. See above.

 

[Toruk_Makto]

Still a big saving for 8 home games for the 7 states without State income tax.

Yes, but the advantage is most often over emphasized.

 

[Vanilla2]

If I’m a rich athlete and had the opportunity to choose where I worked I’d be insane not to choose California. Taxes and all.

But as a so called normie I’d never in a billion years choose Texas. No taxes or anything

 

[GimmeTheBall!]

"Athletes file taxes not only in their home state but also in every state—and some cities—in which they play. Not every state uses the same calculation to determine what portion of an athlete’s income to tax, and some use different calculations based on the sport. For example, Pennsylvania taxes baseball, basketball and hockey players on the ratio games in the state over total games played, including pre- and postseason, but they tax football players based on days worked in the state over total days worked. Michigan uses the same method but excludes the preseason. Most other states use the days worked method. Arizona uses that method but excludes days worked in the pre-season (otherwise MLB would be shopping for a new spring training home)."

https://www.forbes.com/sites/kurtba...are-reminder-of-how-complicated-u-s-tax-code/

That response is awesome, mate!

 

[GimmeTheBall!]

If I’m a rich athlete and had the opportunity to choose where I worked I’d be insane not to choose California. Taxes and all.

But as a so called normie I’d never in a billion years choose Texas. No taxes or anything

You spurn the bleak Metroplex, the soulless Houston and the eager to please Austin- San Antonio area? All that for soft Pacific breezes and laid-back people in California?
What, are you, picky?

 

[Bigdog]

I've lived in LA for 25 years and the thing that gets me is that every year there is a ballot initiative saying "the public school are falling apart, we desperately need to pass this bond measure to stay afloat, but this will fix everything forever". And they have that every single year.

Pupil spending out here in CA is pretty pathetic compare to back East. CA was 49th out of 50 but has improved to 45 now. I don’t mind paying an extra tax for kids, police, fire, etc as long as it goes to my local community and not some place I have never heard of.