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Taxes and NIL

fraggle said:
There is an Entertainer and Jock tax for performances (entertainers) and road games (Jocks) and NIL is income and college football players (or any athlete who get NIL money) is taxed on a day rate. California thats more then 13 percent (taxable amount) with New York close behind with high state income tax. It keep Tyrek Hill from going to the Jets as he'd of lost 3 million plus just in tatxes. When we play Cal or Stanford at home our NIL players get taxed. We seem to be getting our fair share of California players and I wonder if tax is why. I wonder what it cost Carson when we played California. I'm sure there are those eho know much more about this then I, please add your ccomments as to how punishing NIL taxation might be. NYC for example has city tax too!
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Yes, when I lived in NYC, I saw how both NYC and Philadelphia both have commuter taxes for out-of-city residents that work within the city limits. I hated paying federal, state, and city taxes, and it sure was nice going back home to Florida where I got to cut two of those out.

Makes me wonder what other cities might have those extra city taxes, as so many games are going to neutral sites. That’s going to definitely impact the kids more. Atlanta doesn’t, to my knowledge. I don’t think Dallas does either, but I might could be wrong about that one.
 
caneingville said:
Yes, when I lived in NYC, I saw how both NYC and Philadelphia both have commuter taxes for out-of-city residents that work within the city limits. I hated paying federal, state, and city taxes, and it sure was nice going back home to Florida where I got to cut two of those out.

Makes me wonder what other cities might have those extra city taxes, as so many games are going to neutral sites. That’s going to definitely impact the kids more. Atlanta doesn’t, to my knowledge. I don’t think Dallas does either, but I might could be wrong about that one.
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There was a time when dc was talking about doing it to Maryland and Virginia residents working in the district but so many people in dc now reverse commute that the payback from those states I think halted it but this was years ago and I don’t know how it ended up.
 
I hope Florida posters know and understand that our state constitution disallows state income tax and it would take a 60 percent vote to incorporate Florida state income tax. Our state constitution I've read is a copy of the basics of the state of Ohio constitution yet unbelievably the Ohio income tax on individuals and estates was enacted in December 1971 and took effect January 1, 1972. An income tax on trusts was enacted in 2002 to help balance the state budget. I visited Ohio often and can't believe how they made these idiots vote themselves more income tax but tactics worked. Just like the argument opposing Florida dropping HOMEOWNERS they ones favoring it say our schools will suffer even though we will still pay tax on schools. Ohio stopped fixing roads with no effect, made athletes buy their equipment with no effect then they cut welfare and the big cities welfare folks overwhelmed the vote.

Just an FYI to think about the state constitution amendments when they are on the ballot here in Florida. All my voting life I've voted no on ANY change to our state constitution with the homeowner’s amendment I'm approaching it cautiously thinking I will vote for it, cautious because the ACTUAL Bill is not on the ballot just someones opinion of the bill.
 
RF-4CCane said:
Fraggle is actually correct here:

“Yes, California’s tax laws heavily impact college athletes, particularly through state income tax and multi-state "jock tax" rules. Because the IRS treats all Name, Image, and Likeness (NIL) money as taxable income, athletes face complicated filing obligations across state lines. [1, 2, 3, 4, 5]

How California Taxes NIL Income
  • State Residency: If you attend college in California and are considered a resident, the state will tax the entirety of your NIL earnings, even if a brand deal comes from out-of-state. California has some of the highest marginal state income tax rates, reaching up to 13.3%. [1, 2, 3]
  • Non-Resident Taxation: If you attend school in another state but travel to California for games, appearances, or training, California can tax a portion of your NIL income earned while physically in the state. [1]”
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I can't see any top California recruits STAYING in California to play if they're getting taxed like that!

No wonder UM is looking good as a great school to play for.

These SOB's (the State) didn't ever pay your food bill, never had to clothe you, never had to shelter you, didn't take you to school, never took you to the doctor nor paid insurance for you - but the moment you start making some money playing football - they suddenly declare the State is your new partner - and they decided they're getting a 10% or 13% payday?

That they didn't even negotiate? Or pay for attorneys fees?

All other out of state schools should just refuse to play any games in those states. No games - no dam*ed taxes - na-na-nah-na-naah-nah!

And WE took on the British Empire over a 3% tax on tea??? Fought them for years and years - over TEA tax?

I don't even like tea!
 
RVACane said:
RF-4CCane said:
Fraggle is actually correct here:

“Yes, California’s tax laws heavily impact college athletes, particularly through state income tax and multi-state "jock tax" rules. Because the IRS treats all Name, Image, and Likeness (NIL) money as taxable income, athletes face complicated filing obligations across state lines. [1, 2, 3, 4, 5]

How California Taxes NIL Income
  • State Residency: If you attend college in California and are considered a resident, the state will tax the entirety of your NIL earnings, even if a brand deal comes from out-of-state. California has some of the highest marginal state income tax rates, reaching up to 13.3%. [1, 2, 3]
  • Non-Resident Taxation: If you attend school in another state but travel to California for games, appearances, or training, California can tax a portion of your NIL income earned while physically in the state. [1]”
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Im sure California does this but these guys aren’t getting paid for the day spent in California. They have nil deals let’s say back in Florida. I would think they could argue that there’s no California domicile and no California earnings so no nexus between them and their NIL deal and Gavin Newsom. @TheOriginalCane
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Are they 1099 employee’s? Not sure how they title themselves and that will weigh heavily on their tax burden.
 
arizonacane said:
Wait until these states start taxing business professionals for the time they spend in their states developing business and securing orders!
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I note a fair number of businesses have left certain cities and states where they've been for scores and scores of years - just over taxes!

Smith & Wesson moved from Massachusetts and Connecticut to Tennessee.

Beretta USA moved from Maryland to Tennessee.

Rideout ****nal moved from Virginia to Georgia.

Ruger moved from Connecticut to North Carolina

Taurus moved from Florida to Georgia - lower taxes.

Daniel Defense moved from South Carolina to Georgia (more of a consolidation)

Remington from New York to Georgia.

Mossberg ( Weatherby (California to Wyoming) as well joining in the migration of firearms companies getting out of Northern (Yankee) states to states in the South.

Magpul Industries from New York to Wyoming.

Troy Industries from Massachusetts to Tennessee.

Kimber from New York to Alabama.

Stag Arms from Connecticut to Wyoming.


We have another North versus South ruckus - we got this!
 
It would be hilarious if a player listed expenses incurred getting to that NIL contract - and submitted a supplemental income statement.

Since the State had no capital in the investment, and thus nothing on the Balance Sheet - this "partnership' had no sales, no cost of sales, no inventory, nothing but expenses - including transportation and recent attorney fees - there's no payment due to the partnership.

For either partner since the date was set for this game. Take it to the Supreme Court - I thought there was no tariffs, taxes, or other fees against other states which would interfere with the concept of free trade.
 
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