THN: What a NHL player pays in taxes depending on team

[united]

If going off this, it seems pretty immaterial for almost all. Forbes describes their methodology as "The off-ice earnings estimates, which are rounded to the nearest $100,000, are determined through conversations with industry insiders and reflect annual cash from endorsements, licensing, appearances and memorabilia, as well as cash returns from any businesses in which the athlete has a significant interest."

[undercoverbrother]

Originally Posted by sureLoss

Does anyone have a source or confirmation for this claim?

I'm not saying it is wrong but I was in the US this week and my US colleagues were laughing at this when I told them.

I need to rub it in theirfaces with an actual source.

[sureLoss]

Originally Posted by undercoverbrother

Does anyone have a source or confirmation for this claim?

I'm not saying it is wrong but I was in the US this week and my US colleagues were laughing at this when I told them.

I need to rub it in theirfaces with an actual source.

It is called a jock tax in the US.

https://www.cplanning.com/jock-tax-cost/

[Strange Brew]

Originally Posted by undercoverbrother

Does anyone have a source or confirmation for this claim?

I'm not saying it is wrong but I was in the US this week and my US colleagues were laughing at this when I told them.

I need to rub it in theirfaces with an actual source.

Your US colleagues don't know alot about income taxes so you certainly can rub their face in it. You don't have to be a pro athlete to pay tax in a non resident state (the "jock tax" term is misleading). You just need to have earned income in that state. Anyone who travels for their job has had to deal with this. Employers are required to withhold once you reach a threshold which varies by state.

https://ttlc.intuit.com/turbotax-sup...s6VbJ_US_en_US

https://www.wolterskluwer.com/en/exp...dent-employees

[undercoverbrother]

Originally Posted by Strange Brew

Your US colleagues don't know alot about income taxes so you certainly can rub their face in it. You don't have to be a pro athlete to pay tax in a non resident state (the "jock tax" term is misleading). You just need to have earned income in that state. Anyone who travels for their job has had to deal with this. Employers are required to withhold once you reach a threshold which varies by state.

https://ttlc.intuit.com/turbotax-sup...s6VbJ_US_en_US

https://www.wolterskluwer.com/en/exp...dent-employees

#### yes!

[FlamesAddiction]

Originally Posted by GreenLantern2814

Now that everyone knows about all these deferred money deals, I assume Canadian teams will deploy that liberally.

Seems like a pretty elegant way to get around the tax issue without altering the CBA.



Because Dallas sucks and Seattle is nice.

In the Vatrano thread, someone indicated that it might not work as well in Canada because of the way deferred salary is taxed. It was also mentioned that the state of California could possibly make a legal challenge since the earnings for Vatrano would have been earned in their state regardless of whether he doesn't access the money until he leaves.

Just parroting what was said, or at least how I understood it. I am definitely not an expert or really even well informed on more complex tax issues.

The other deferred salary contract from the past year was Seth Jarvis, but that one was different because he gets the deferred salary the day after his contract expires so it likely doesn't have any tax implications. It seems it was done just to get the cap hit a little lower. It will be interesting to see if other players try what Vatrano did, but it could be years before we know if it ends up being a wise decision.

[Finger Cookin]

Originally Posted by Oil Stain

I personally think the cap should be calculated post tax. Some cities are already fighting weather and desirability. At least taxes you can even out.

Completely feasible with multiple federal, state, provincial, and municipal tax regimes in place that can change on a whim never mind when regimes change. Let alone tax treaties between countries or states or provinces which might alter things beyond the basic tax calculations.

Taxes are so far beyond the league's sphere of influence, trying to account for them in collective bargaining is sheer folly.

[butterfly]

Originally Posted by Finger Cookin

Completely feasible with multiple federal, state, provincial, and municipal tax regimes in place that can change on a whim never mind when regimes change. Let alone tax treaties between countries or states or provinces which might alter things beyond the basic tax calculations.

Taxes are so far beyond the league's sphere of influence, trying to account for them in collective bargaining is sheer folly.

Not to mention the absurdity of cheering for Alberta and Canada to raise taxes when I don’t live there, for no other reason than it would help the Flames.

[OmegaV4]

Honestly, it's hard to really feel bad for them. Their still taking in 1.4 - 1.7 million over a season, which is roughly 56-65K bi-weekly.

I'd LOVE for that, regardless of the taxes lol.

[Flames Fan, Ph.D.]

The other thing that chart underlines is how no player wants to sign a contract in New York or California.