Jock and CEO Taxes
 

Reading in this week's Business Week Magazine that twenty states now have special tax laws to nail the incomes of pro athletes and other high income people who earn money when they play or do business in their particular state.

Tim Duncan who led the San Antonio Spurs to the NBA championship, for example, will have to shell out $288,000 to states where he isn't even a resident this year on his $12 Mil salary.

Apparently now, with states looking for every dollar they can, they might start enforcing these special tax collections on CEO's when they travel into a state to do business deals.

:BangBang:

What does KRL stand for sweety? :)

Good for them :thumbsup Those overpaid bums should give back a little to the people.They should triple it

How do they calculate how much tax they have to pay each state?

Nothing.

By the amount of games played in that state.

Overpaid? Maybe in your opinion, but you're not the one writing their checks are ya. This tax is bs.

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Pro athletes justify high salaries because they have short careers in most cases, risk injury, and draw lots of eyeballs and eyeballs is what advertisers pay a fortune for.

They've been doing that here in Louisiana for awhile now, and it is bullshit.

The visiting players have to pay LA state income tax on what they make the week they're here to play the Saints.
That would make sense IF the Saints players didn't have to pay state income tax the weeks they played road games, but that isn't the case.

I thought DebbieTheCockLover was one of your alternate GFY personas???

I like ya lots Juice but not quite to that level dude.

:1orglaugh

That's just lame. I can understand state taxing my income if the income is derived from within that state (even if I'm a non-resident) but taxing someone's income because they worked temporarily there (but the source of income was not there, it was elsewhere) is just leeching.

And honestly, I don't see anyone in the sports industry as overpaid. They put a lot on the line and work a lot harder than most of us.. and they make a LOT of money for the team or the company that owns the team. They deserve a piece of the pie (same justification for super-star directors, producers, actors and actresses really). Make a lot of money off me, I want a large paycheck.

Anyone got a URL to a related news article somewhere online?

Then what the fuck is federal taxes for..

We have that here and yeah, it is bullshit. I don't know how one state can tax the citizens of another, I'd be tempted to tell them to fuck off and challenge it in court.

No kidding. To both of you. :)

I mean, federal tax is supposed to handle that. But apparently most states with state income tax disagree. I mean, damnit man, this isn't different countries we're talking about! California and Arizona are in the same country!! :mad:

Nah ... they can't do taht they will loose their business . local economy is more important