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Started By
Message
re: wtf is happening with Jahkeem Stewart
Posted on 11/26/24 at 9:44 am to BetaPhi681
Posted on 11/26/24 at 9:44 am to BetaPhi681
quote:
Losing bidding wars is not a good look for the program.
It’s a great look IMO.
We want kids that want to play football at the highest level and go on to the NFL and play there, not primadonna’s that only care about a quick buck and nothing else. Most of the time those money hungry guys never pan out and are broke in a year.
quote:
That will depend on where he lists his residence and where the "work" is performed for his NIL revenue. As I understand it, work done for a California based company is subject to state taxes if you either do the work in the state of California or if you are a resident of California regardless of where the work is done. So if he maintains his Louisiana residency (easy for a student to do) and his NIL is based on signing autographs at a resort in Vegas owned by a Nevada-based company he would not be subject to state income taxes in Cali or Nevada (no state income tax) but only Louisiana. But I'm sure California has some way of squeezing those taxes out in that case.
I’m not even getting into the tax aspect of it, just the housing/cost of living increase from Louisiana to SoCal
This post was edited on 11/26/24 at 9:46 am
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Posted on 11/26/24 at 9:50 am to Rtowntiger
quote:
If that is the case he needs to be educated on Cost of Living and California taxes.
Cost of living may be greater, but their citizens have by far more disposable income per capita. They also have far nicer amenities, roads, infrastructure.
Take it from someone who’s lived all over the country. Yeah, I paid more taxes I. Cali, but I never hit a single pothole, rarely did I lose power the education system is far more advanced than in the south, and damned if the weather wasn’t much much nicer year around.
I’m not saying Cali doesn’t have its issues. Every place does. But there are logical reasons why some places have a higher cost of living. Places with nice climates and limited spacing (Hawaii has the highest cost of living, but all things being equal, most people would kill to live there) because it has a great climate year around and beautiful scenery but the space is very limited.
Posted on 11/26/24 at 10:14 am to Dragonbutt
I was really hoping that Bo and Frank would be able to keep him home, but as the song says "It's the lure of easy money, it's got a very strong appeal" (Smuggler's Blues).
It's not over yet though.
It's not over yet though.
Posted on 11/26/24 at 10:18 am to Nomadic Bengal
(no message)
This post was edited on 11/26/24 at 9:33 pm
Posted on 11/26/24 at 10:19 am to mdomingue
If his Lambo is registered in California, that's going to $$$ hurt
Posted on 11/26/24 at 10:20 am to Dragonbutt
This kid has massive Sophser vibes.
Side note- spoke to one of his trainers who candidly said he’s stiff AF. I hope LSU does not break the bank on him.
Side note- spoke to one of his trainers who candidly said he’s stiff AF. I hope LSU does not break the bank on him.
Posted on 11/26/24 at 10:31 am to mdomingue
I'm not going to pretend I know how the contracts are structured regarding NIL. I do know however that NFL players pay a state income tax in the state they played in to earn their income.
Example; If a Cowboys player played the Giants, they would pay the state of New York state income tax because they earned their check in New York that week.
Maybe some of you CPA's could chime in on how an NIL contract would work.
Example; If a Cowboys player played the Giants, they would pay the state of New York state income tax because they earned their check in New York that week.
Maybe some of you CPA's could chime in on how an NIL contract would work.
Posted on 11/26/24 at 10:32 am to tigerbru17
Agree.
Posted on 11/26/24 at 10:51 am to kajunman
quote:
I'm not going to pretend I know how the contracts are structured regarding NIL.
Not many do.
quote:
I do know however that NFL players pay a state income tax in the state they played in to earn their income.
That is not always true. I have worked and managed people who have worked all over the country. What you are talking about varies by state quite a bit. Some states have no income tax, some states do not tax people working in their state who reside in another state if the work is temporary (if they are working their primary job in that state, most tax that regardless of where you live).
quote:
I do know however that NFL players pay a state income tax in the state they played in to earn their income.
New York taxes any income earned for work performed in the state of New York, So that is a correct statement. The only state we did work in that did that for any of the guys I worked with was New Mexico. I did work in Texas, Colorado, Iowa, Oregon, Rhode Island, and Alaska and never paid income tax except in Louisiana.
Posted on 11/26/24 at 10:55 am to Dragonbutt
I would be more upset if he was going to somewhere like Bama or Ole Miss or another sec school. If the family wants life changing money and go experience the west coast, more power to them. I would rather spend that money on the portal and other recruits. The Devin Harper flip aggravates me more than this.
Posted on 11/26/24 at 10:57 am to mdomingue
I have 2 friends who played in the NFL. Both paid state income tax in the state where they played any given week. It may be different for other professions or vocations but if you're a player. You're gonna pay. NFL players are self employed. They are getting paid for a service.
quote:
That is not always true.
Posted on 11/26/24 at 11:09 am to Dragonbutt
quote:
So I see that Sam Spiegelman says that it’s gonna be USC and that it’s a two man race between them and Oregon
Then I see from ESPN and ON3 that it’s a LSU/OSU battle and that LSU is currently the favorite
Or you could realize none of these recruiting schmucks have any inside info and if they do, it is impossible to distinguish one from the other
Posted on 11/26/24 at 11:10 am to Forever
quote:
These type of recruitments never end with the player at LSU
and these types of players turn out to be busts more often than not
Posted on 11/26/24 at 11:49 am to mttiger
quote:
Jeez, just end the recruiting process and have eBay style auctions. Send a few brochures, make a few phone calls then let the bidding begin.
I think this practice is now illegal.
Posted on 11/26/24 at 12:51 pm to J2thaROC
quote:Were you living in Cali at 19 years old making 2+ million a year with zero common sense?
Cost of living may be greater, but their citizens have by far more disposable income per capita. They also have far nicer amenities, roads, infrastructure.
Take it from someone who’s lived all over the country. Yeah, I paid more taxes I. Cali, but I never hit a single pothole, rarely did I lose power the education system is far more advanced than in the south, and damned if the weather wasn’t much much nicer year around.
I've watched a lot of entrepreneurs. The young ones who get money in late teens and early 20s, blow through their money because they have no direction and are just doing what they want. It's a hell of a lot easier to blow a million real quick in LA than it is in BR.
Posted on 11/26/24 at 12:57 pm to BetaPhi681
quote:
We need to get our $$$ up of simply move on from these kids.
I agree.
At this point just make sure USC overpays. Then hit the portal hard with the NIL money saved and land two experienced defensive lineman that can give LSU 1-2 years.
Posted on 11/26/24 at 1:00 pm to mdomingue
quote:
That will depend on where he lists his residence and where the "work" is performed for his NIL revenue. As I understand it, work done for a California based company is subject to state taxes if you either do the work in the state of California or if you are a resident of California regardless of where the work is done. So if he maintains his Louisiana residency (easy for a student to do) and his NIL is based on signing autographs at a resort in Vegas owned by a Nevada-based company he would not be subject to state income taxes in Cali or Nevada (no state income tax) but only Louisiana. But I'm sure California has some way of squeezing those taxes out in that case.
Without getting into a long and involved explanation:
Money (income) earned in California, regardless of state of residence of the taxpayer, is taxable as income in California.
Posted on 11/26/24 at 1:17 pm to kajunman
It is not always true but a little research showed me that there is a "jock tax" imposed on professional athletes in every state with a professional football team except Florida, Texas, Washington state, and Washington, D.C.
Local taxes can also come into play. But with Stewart, it will come down to what they are paying him for and where it occurs. So if he works in Nevada signing autographs or just showing up for personal appearances as part of his NIL package, he would not owe Cali taxes. Remember, they are still pretending that NIL is not paying for them to play football.
And thank you for challenging me, it forced me to double-check to see if there were special rules for professional athletes.
Local taxes can also come into play. But with Stewart, it will come down to what they are paying him for and where it occurs. So if he works in Nevada signing autographs or just showing up for personal appearances as part of his NIL package, he would not owe Cali taxes. Remember, they are still pretending that NIL is not paying for them to play football.
And thank you for challenging me, it forced me to double-check to see if there were special rules for professional athletes.
Posted on 11/26/24 at 1:54 pm to Coloradeaux
so did you write him a note saying "you'll start day 1 at LSU" and give it to him on the plane?
Posted on 11/26/24 at 2:03 pm to mdomingue
quote:
Local taxes can also come into play. But with Stewart, it will come down to what they are paying him for and where it occurs. So if he works in Nevada signing autographs or just showing up for personal appearances as part of his NIL package, he would not owe Cali taxes. Remember, they are still pretending that NIL is not paying for them to play football.
CA is an apportionment state, but if the income is received in a state that has no personal income tax, CA will claw back that income for state income tax purposes for residents of CA and in some/most cases for persons domiciled in CA regardless of legal state of residence.
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