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State tax difference

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State tax difference

Postby Dude86 » Tue Jan 25, 2005 5:06 pm

How come the state tax on free agent contracts wasn't an issue until this year? Are there new laws or something, or is it just like a hot topic this year?
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Postby Amazinz » Tue Jan 25, 2005 5:11 pm

No it's always been an issue but it's getting blown out of proportion this year. ;-)
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Postby Pogotheostrich » Tue Jan 25, 2005 5:12 pm

It has been brought up before. In fact I know that some states tax visiting team's players on how many games they played there.
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Postby Amazinz » Tue Jan 25, 2005 5:15 pm

Pogotheostrich wrote:It has been brought up before. In fact I know that some states tax visiting team's players on how many games they played there.

They all do if the state has a tax. This is one of the issues being over-looked. For instance, Pujols only pay's tax on half his salary in St. Louis the rest is paid in the other states he played in.
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Postby RugbyD » Tue Jan 25, 2005 5:16 pm

Amazinz wrote:No it's always been an issue but it's getting blown out of proportion this year. ;-)


i don't think its getting blow out of proportion at all. i guess when we're talking millions and millions of dollars maybe it doesn't seem that important, but that's some serious commie-style coercive levies that new york demands.
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Postby Amazinz » Tue Jan 25, 2005 5:29 pm

RugbyD wrote:
Amazinz wrote:No it's always been an issue but it's getting blown out of proportion this year. ;-)


i don't think its getting blow out of proportion at all. i guess when we're talking millions and millions of dollars maybe it doesn't seem that important, but that's some serious commie-style coercive levies that new york demands.


I'm not disregarding the difference in money. Obviously it is very important but it's the reports of how much money teams need to offer above and beyond that are blown out of proportion. Take FLA and NY for example, the difference is ~$35.5K per million dollars.
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Postby red » Tue Jan 25, 2005 5:32 pm

Amazinz wrote:
RugbyD wrote:
Amazinz wrote:No it's always been an issue but it's getting blown out of proportion this year. ;-)


i don't think its getting blow out of proportion at all. i guess when we're talking millions and millions of dollars maybe it doesn't seem that important, but that's some serious commie-style coercive levies that new york demands.


I'm not disregarding the difference in money. Obviously it is very important but it's the reports of how much money teams need to offer above and beyond that are blown out of proportion. Take FLA and NY for example, the difference is ~$35.5K per million dollars.


Am I the only one who thinks that's a lot of money?
35.5K/year per million. Therefore 12M/year = 426K.
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Postby Amazinz » Tue Jan 25, 2005 5:36 pm

Lol. Yes it's a lot of money for me too. But it's not that big of a deal that it's a disadvantage for the Mets or the Yankees which is how it's portrayed. :-)
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Postby jellyroll » Tue Jan 25, 2005 5:38 pm

Amazinz wrote:
RugbyD wrote:
Amazinz wrote:No it's always been an issue but it's getting blown out of proportion this year. ;-)


i don't think its getting blow out of proportion at all. i guess when we're talking millions and millions of dollars maybe it doesn't seem that important, but that's some serious commie-style coercive levies that new york demands.


I'm not disregarding the difference in money. Obviously it is very important but it's the reports of how much money teams need to offer above and beyond that are blown out of proportion. Take FLA and NY for example, the difference is ~$35.5K per million dollars.


According to:
http://www.taxadmin.org/fta/rate/ind_inc.html

No state tax in Florida and up to 7.7% in NY so per $1M that's 77k, correct?

Not a lot but not negligible either.
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Postby LBJackal » Tue Jan 25, 2005 5:41 pm

No wonder nobody wants to some to Canada... it's like 29% here or something like that. 7.7% is like union dues!
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