- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: NIL, IRS, and Players
Posted on 2/3/24 at 7:24 pm to Germany1941
Posted on 2/3/24 at 7:24 pm to Germany1941
NIL is exempt from taxes probably.
3
Posted on 2/3/24 at 9:51 pm to kywildcatfanone
It can't be exempt. It's income.
Posted on 2/3/24 at 9:52 pm to kywildcatfanone
Negative. A good friend has a son who is a TE at Arkansas. NIL is definitely NOT tax exempt. Got his 1099 this week.
Posted on 2/4/24 at 12:09 pm to kywildcatfanone
quote:
NIL is exempt from taxes probably.
It’s earned income for “marketing.” Thats 100% taxable. The students are also on scholarship so pretty much everything else is paid for, meaning they really won’t have a lot of write offs to offset their tax obligation.
The ones who are going to be screwed are the ones who made $50k and blew it all and didn’t account for taxes. They are going to have to get another NIL deal just so they can pay their taxes.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News