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Started By
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Hope all those CA recruits are happy paying those CA taxes.
Posted on 12/4/24 at 1:20 pm
Posted on 12/4/24 at 1:20 pm
Tween the IRS and CA taxes, they'll lose some of their big haul today.
17
Posted on 12/4/24 at 1:21 pm to boudinman
50%
Posted on 12/4/24 at 1:22 pm to boudinman
i’m no tax accountant but i believe if the check clears before 12/31, there will be no california taxes paid
Posted on 12/4/24 at 1:22 pm to boudinman
Stewart will be in the portal one day. I’ll ban bet it.
Posted on 12/4/24 at 1:23 pm to Gabe Rippen
NIL checks are paid monthly.
Posted on 12/4/24 at 1:25 pm to boudinman
These kids aren't savvy enough to know about taxes now. Do you think they'll understand taxes are different in different states?
Posted on 12/4/24 at 1:26 pm to boudinman
Wonder if the LLCs and collectives are established in CA. The players likely aren’t claiming residence in the state and not being paid on a game by game basis or the jock tax.
Posted on 12/4/24 at 1:27 pm to CanebreakCajun
quote:
NIL checks are paid monthly
This and CA is going to get their taxes. Lastly obviously it is money because Lincoln Riley has that program trending in a worse direction than the home state LSU team for sure.
Posted on 12/4/24 at 1:27 pm to The Hurricane
The IRS isn't gonna give a shite about that.
They care about where the money is being earned.
They care about where the money is being earned.
Posted on 12/4/24 at 1:28 pm to GhostofJackson
quote:
These kids aren't savvy enough to know about taxes now. Do you think they'll understand taxes are different in different states?
They'll be in the red on draft day.
Posted on 12/4/24 at 1:31 pm to wadewilson
quote:
The IRS isn't gonna give a shite about that.
The IRS has nothing to do with state taxes. They are going to pay the same rate to the IRS no matter what.
Posted on 12/4/24 at 1:39 pm to boudinman
The IRS takes the same regardless of where you live, and the state income tax in Cali isn't really that much more than in Louisiana. We are talking about maybe 5% at best. So, as l9ng as their offer is ~5%+ better it is the same money.
Posted on 12/4/24 at 1:47 pm to boudinman
It’ll be interesting to see if CA takes the position of earned income inside CA.. they aren’t being paid by game but are essentially earning the funds through CA. The one definitive is that lawyers will get billable hours and that’s seems to be the way of the world.
Posted on 12/4/24 at 1:52 pm to boudinman
STHU, kids not thinking about that shite.
Posted on 12/4/24 at 1:53 pm to boudinman
They won’t understand about how that works or plan for it until the IRS sends a fun letter.
Posted on 12/4/24 at 2:00 pm to GhostofJackson
quote:
These kids aren't savvy enough to know about taxes now. Do you think they'll understand taxes are different in different states?
No, but their agents (if they have them) will be. I get that most of these young men aren’t Fulbright Scholars, but to think that every single athlete doesn’t have someone at least attempting to layout every pro and con, including tax incentives, is exceedingly condescending.
Also, it’s not like Louisiana is some low tax state:
quote:
If you make $300,000 a year living in the region of California, USA, you will be taxed $117,087. That means that your net pay will be $182,913 per year, or $15,243 per month. Your average tax rate is 39.0% and your marginal tax rate is 48.7%.
quote:
If you make $300,000 a year living in the region of Louisiana, USA, you will be taxed $100,753. That means that your net pay will be $199,247 per year, or $16,604 per month. Your average tax rate is 33.6% and your marginal tax rate is 41.6%.
This is just income tax so I know there are a frick load more factors that go into it, but the tax argument isn’t necessarily in Louisiana’s favor.
Talent.com salary/tax calculator
Posted on 12/4/24 at 2:03 pm to Tiger in NY
12.3% top rate, 11.3 over $430k-1mm
Posted on 12/4/24 at 2:04 pm to boudinman
Nah bruh, they retain their state of origin as a college student. At least I think they do.
Posted on 12/4/24 at 2:06 pm to TROLA
quote:
earned income inside CA
Is exactly what it will be.
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