How taxes affect free agency in pro sports

Discussion in 'Tennessee Titans and NFL Talk' started by JCBRAVE, Apr 20, 2015.

?
  1. Yes

    7 vote(s)
    77.8%
  2. No

    1 vote(s)
    11.1%
  3. Whats the jock tax?

    1 vote(s)
    11.1%
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  1. JCBRAVE

    JCBRAVE goTitans 2019 Survivor Champion

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    good point,

    I mean yes a teams current situation counts for something, the NFL after all stands for Not For Long, so Id say you have a valid point there, but thats a QB conundrum. You look at past teams from those states and when the QB was there so were the wins.

    If I were shopping my services as a FA Ill be honest, first thing Im looking for is a team with a QB, 2nd is nowhere freezing 6 months of the year, then money is a factor. I just hate being cold lol
     
  2. Big TT

    Big TT AKA QUADZILLA-STATE CHAMP-

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    I would have the same list in the same order...maybe even warm weather at number one. Also, within a couple of years the two top qb's will be gone...manning and brady to retirement..which opens up the whole what is an elite qb to another level. After those two I don't think there are any "elite" qb's...several really good ones in good situations but no elite.
     
  3. JCBRAVE

    JCBRAVE goTitans 2019 Survivor Champion

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    Aaron Rodgers is still young enough to make that leap soon. I'd say Roethlisberger also stands an outside chance of breaking through as elite, he's got a great cast around him and for a change Pittsburgh has been investing in protecting him.
     
  4. Alex1939

    Alex1939 Space Invaders Champion

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    It's obviously not the only factor but it is definitely an important part of the decision for certain players situations where those options make a significant financial difference.
     
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  5. TorontoTitanFan

    TorontoTitanFan Pro Bowler

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    I wish I could link back to it but I forget where I saw it... anyhow, either a former NFL exec or agent tweeted during free agency that most teams can structure bonuses so they are taxed in a player's home state and minimize a lot of these tax implications. The guy said this whole thing is overblown.

    I don't know if that's truly accurate, but thought I would share.
     
  6. Big TT

    Big TT AKA QUADZILLA-STATE CHAMP-

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    I fail to see how that could be. I would have to see a link about that because that goes against everything that I have ever seen regarding this.
     
  7. Alex1939

    Alex1939 Space Invaders Champion

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    Also bonuses are minor compared to total contract. Hard to see how you could get out of a state's income tax if your work (and you are being paid) in that state regardless of where permanent residence may be. But I'm no accountant.
     
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  8. Big TT

    Big TT AKA QUADZILLA-STATE CHAMP-

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    Not to mention that you also pay taxes on away games in states/cities that have income taxes.
     
  9. TorontoTitanFan

    TorontoTitanFan Pro Bowler

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    Yeah, I have no idea how it would actually work. Just sharing what I read.

    I did a quick search and still can't find the original source, but I did find something that says signing bonuses (which for some players are in the tens of millions) are taxed in a player's state of residence and not necessarily where he plays: NFL Players Can Save A Fortune With Tax Decisions
     
  10. GoT

    GoT Strength and Honor

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    I guess it must be the big payday for the athletes that get states attention for the away games. Probably the same for touring bands ect...

    to my knowledge if I was to drive to Alabama and conduct a business transaction for my company I would not owe Alabama taxes just file my regular company taxes
     
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