04-18-2023, 01:53 PM
(04-18-2023, 01:31 PM)SunsetBengal Wrote: According to the article from Forbes, it's only dealing with State taxes as they relate to signing bonuses. If a player receives all of his pay via game checks, he has to pay the state and local tax rate for the city/state he played that week. If he receives his money as a bonus, he's only taxed on that money in the city/state that he has his official residence established. For example a player living in a 'no State income tax State' like Texas or Florida, they can save a large amount of money by electing to take their money in the form of a bonus. Whereas athletes residing in high tax States like NY, Ill, or Cali, will feel a huge tax burden on said bonuses.
That's what I'm saying: why don't players in those states like Florida or Texas do that?