Professional Athletes and Taxes

[Ibanez]

Read this article from Forbes.

http://www.forbes.com/sites/kurtbadenha ... -earnings/" onclick="window.open(this.href);return false;

I can't copy and paste but the jist of it is that, if Manning wins the Super Bowl, the NJ taxes will take most of his winnings.

NJ is also the 2nd worst state for taxes.
http://www.thefiscaltimes.com/Media/Sli ... Taxes-2014" onclick="window.open(this.href);return false;

[Grizalltheway]

Guess he'll have to ask Papa John for a raise.

[VictorG]

I think they should add an additional 25% tax for playing on a dumb A$$ team!

[tribe_pride]

Not supporting or going against, just trying to tell the full story. Manning and the other Broncos will get some of that back as a tax credit on their state return I believe so they are not being double taxed. Since NJ has a higher tax rate than Colorado, they won't get the full amount back but will get credit for the Colorado tax rate for the amount taxed.

[AZGrizFan]

An absolutely retarded requirement of the US tax code, that professional sports athletes have to file taxes in EVERY state they play in...

WAFJ.