February 9, 201610 yr Crazy tax laws. Cam made about $50k for the game (loser's share) but his taxes to California are $100k. No wonder he was upset. Note: This is from a tax blog. First part talks tax law. It's about half-way down when they bring Cam's situation in. For Cam Newton, Adding Super Tax Insult to Super Bowl Injury | Cato @ Liberty
February 9, 201610 yr He should be more upset with the NFL than the state of California? He only gets $50, 000 for playing in the Super Bowl? Heck the loser share for World Series was $230,699.73 in 2014.
February 9, 201610 yr I wonder if Santa Clara adds city income tax to those figures as I could not tell if they already included it in their calculations.
February 9, 201610 yr If that's the case, I would petition to never play the Super Bowl in California.
February 9, 201610 yr If that's the case, I would petition to never play the Super Bowl in California. Agreed. I would think the NFL Players Assoc would mandate only FLA, TX or other non-tax states to host SB. Talk about decreased incentive to do business in Cali . . . . makes one not want to dive after a loose football.
February 10, 201610 yr I think the article is a bit (but not much) misleading. First, the $101K amount is not tax on his Super Bowl Bonus. It is a tax applied to his entire earnings for the year while he 'worked' in California. The $51K or $102K, had he won, is just part of that bucket. Note that he was going to owe a little over $100K in Cali taxes win or lose. Second, that amount is probably overstated. California does tax out-of-state workers when they work in California (I think for 'ordinary' workers you have to work 10 days in California before they care). So California will tax you. But they take into consideration if your home state taxes you as well. North Carolina does have an income tax that probably applies to Cam's salary. But NC tax rate is only 5.75% vs. California's 13.3%. If your home state does not reduce your taxes for working out of state then I believe Cali 'only' taxes you the difference. But if you take the work days out of your home state income reporting or live in a state with no income tax, like Florida, I think Cali gets the whole 13.3%. Some players in St. Louis right now should be booking appointments with a tax advisor. The Ram players will be in for an awaking.
February 10, 201610 yr Wonder if those guys ever take local taxes into effect when deciding on a free agent offer between the 49rs and the Dolphins for instance.
February 10, 201610 yr Wonder if those guys ever take local taxes into effect when deciding on a free agent offer between the 49rs and the Dolphins for instance. I think they do. For big name guys paid a lot of money, this should be an important factor.
February 10, 201610 yr He should be more upset with the NFL than the state of California? He only gets $50, 000 for playing in the Super Bowl? Heck the loser share for World Series was $230,699.73 in 2014. The NFL owners are evil! How much money did the NFL make on the Super Bowl? Hundreds of millions of dollars?? More than a billion? And all of the players combined on the losing team make about $2.5MM?? Absolutely crazy...
February 15, 201610 yr I thought someone had broken into his hotel room and stole his laptop.... :isurrender:
February 16, 201610 yr Wonder if those guys ever take local taxes into effect when deciding on a free agent offer between the 49rs and the Dolphins for instance. Yes they do, Suh did, Lebron did at the time in Miami and players in Texas have as well.
February 16, 201610 yr Yes they do, Suh did, Lebron did at the time in Miami and players in Texas have as well. Was about to post the same thing. Every big time NBA free agent has Dallas, Houston, Miami, and Orlando on their list.
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