re: Anyone know the TAX of NIL

I feel like that’ll be the case. 1099s don’t typically have income tax withheld so most of these kids and families are going to be blindsided.

LINK

NIL - you are being paid for use of your name, image, or likeness… these aren’t gifts and you’ll have to contribute something in the way of name image or likeness toward whomever contracted you. Appearances, social media postings, autographs, photo shoots, etc. There will be contracts and there will be breaches of contract that we’ll see. There are going to be lots of kids hurting from not understanding the depth of what they’re getting into. Those under the table deals of old never saw Uncle Sam - all of these NIL deals will.