Blog Posts Tagged with "state tax"

Introduction As Tom Brady leaves Minneapolis empty handed following a disappointing loss to the Philadelphia Eagles in Super Bowl LII (52), he soon could be met with a substantial tax bill from the State of Minnesota to be paid next April 15th. All athletes are subject to the jock tax, but it should be noted […]

Whether you are a seasoned veteran or a rookie navigating tax season for the first time, it can prove to be an extremely stressful time of year for all professional athletes.  In addition to facing the same tax requirements as others, professional athletes have several additional layers of complexity. First, filing requirements can be confusing […]

Illinois’s tax policy causes nearly a million dollars in tax savings for Jonathan Toews and Patrick Kane INTRODUCTION Nonresident taxation on professional athletes gained national attention in the early 1990s as Illinois retaliated against California’s nonresident tax on Michael Jordan and his Chicago Bulls teammates following their 1991 National Basketball Association (NBA) Championship against the […]

Los Angeles Kings prospect and current Ontario Reign Forward Justin Auger will find that California’s state income taxes will take a greater percentage of his earnings now that the Kings top affiliate has moved west to California from New Hampshire This weekend marks the start of the 80th American Hockey League (AHL) season and the first with […]

Athletes consider alternatives as California’s latest tax increase is implemented In January, California increased its income tax rate by 2%—to 12.3%—for resident and non-resident individuals earning over $500,000.  With California’s Mental Health Service Act imposing an additional 1% on individuals earning over $1,000,000, the state’s 13.3% income tax rate represents the highest of any state […]

Authors Alan Pogroszewski and Kari Smoker examined this very question in their recent law review article and conclude that it is. Marquette Sports Law Review May 31, 2013 In July of 2009 the state of Tennessee imposed a Professional Privilege tax on athletes performing services in the NBA and NHL. Those athletes are assessed a […]

Hearings concerning controversial tax matter scheduled for later this week Is Tennessee’s version of the “jock tax” unconstitutional?  Authors Alan Pogroszewski and Kari Smoker examined this very question in their recent law review article and conclude that it is. Is Tennessee’s Version of the “Jock Tax” Unconstitutional? appears in the spring edition of the Marquette […]

The Oakland A’s have another disadvantage when pursuing free agents on the open market The plight of Billy Bean and the small market Oakland Athletics was highlighted in Michael Lewis’ 2004 book Money Ball. The stakes are different today and Bean’s biggest challenge comes from the state of CA rather than the large market teams […]

Steve Nash’s recent signing revives international income tax debate Steve Nash is a two time league MVP who has played in the NBA since being drafted by the Phoenix Suns in the 1996 entry draft. Nash, from Johannesburg, South Africa, was raised in British Columbia and with his recent free agent status had many Canadians […]

Angles Pay $23,368,000 More Because of State Income Tax Rate The Anaheim Angels of Los Angeles captured the most sought after free agent this offseason when they signed Albert Pujols to a 10-year, $254 million contract. With a maximum state income tax rate of 9.55% and an additional 1% on income in excess of $1,000,000, […]