|
|
Post by vic1963 on Feb 20, 2020 20:05:58 GMT -8
|
|
|
|
Post by baseba1111 on Feb 20, 2020 20:07:42 GMT -8
So all professional athletes pay taxes in every state they play in? They are being paid to play a sport. Yes they do. Shack once said he had like 10+ CPA/bookkeeper types. NBA players pay tax prorated for each game in each state... play in PDX twice, 1/41st of your salary pays not only Oregon state tax, but PDX tourism/city taxes. Same with every pro athlete that performs in different states. Even within NY they might have differing city/ county taxes. |
|
|
|
Post by baseba1111 on Feb 20, 2020 20:08:30 GMT -8
|
|
|
|
Post by believeinthebeavs on Feb 20, 2020 20:23:15 GMT -8
So all professional athletes pay taxes in every state they play in? They are being paid to play a sport. Yes they do. Shack once said he had like 10+ CPA/bookkeeper types. NBA players pay tax prorated for each game in each state... play in PDX twice, 1/41st of your salary pays not only Oregon state tax, but PDX tourism/city taxes. Same with every pro athlete that performs in different states. Even within NY they might have differing city/ county taxes. I had no idea |
|
|
|
Post by believeinthebeavs on Feb 20, 2020 20:24:08 GMT -8
|
|
|
|
Post by alwaysorange on Feb 20, 2020 20:31:35 GMT -8
So all professional athletes pay taxes in every state they play in? They are being paid to play a sport. Yes they do. Shack once said he had like 10+ CPA/bookkeeper types. NBA players pay tax prorated for each game in each state... play in PDX twice, 1/41st of your salary pays not only Oregon state tax, but PDX tourism/city taxes. Same with every pro athlete that performs in different states. Even within NY they might have differing city/ county taxes. NBA players do not pay city of Portland business taxes. Only businesses pay thecityofPortlandu bussines tax. NBA players are employees. |
|
|
|
Post by bvrbooster on Feb 20, 2020 21:02:04 GMT -8
Professional athletes pay taxes to all those states because they are physically there, working. Florida has no state income tax, so the Dolphins players pay no state taxes on their home game revenue. If they have the misfortune to play a road game against the 49'ers, they pay California tax on those earnings.
But, here's the point for the college kids: If the 49'ers play in Miami, and the game is televised in California, the Miami players aren't subject to California tax on that game's salary just because their image and likeness is being shown in California. Same would hold true for the college kids. And, unless the payment for use of their likeness and image was coming directly from the university, there would be no tax liability in other states where they might play.
|
|
|
|
Post by baseba1111 on Feb 20, 2020 21:34:50 GMT -8
Yes they do. Shack once said he had like 10+ CPA/bookkeeper types. NBA players pay tax prorated for each game in each state... play in PDX twice, 1/41st of your salary pays not only Oregon state tax, but PDX tourism/city taxes. Same with every pro athlete that performs in different states. Even within NY they might have differing city/ county taxes. I had no idea Crazy... couldn't imagine being able to keep track, check to see if your getting jobbed. Prob hire two independent firms?! |
|
|
|
Post by baseba1111 on Feb 20, 2020 21:36:30 GMT -8
Yes they do. Shack once said he had like 10+ CPA/bookkeeper types. NBA players pay tax prorated for each game in each state... play in PDX twice, 1/41st of your salary pays not only Oregon state tax, but PDX tourism/city taxes. Same with every pro athlete that performs in different states. Even within NY they might have differing city/ county taxes. NBA players do not pay city of Portland business taxes. Only businesses pay thecityofPortlandu bussines tax. NBA players are employees. I read there is another tax... luxury or something directly aimed at pro athletes. |
|
|
|
Post by bvrbooster on Feb 20, 2020 23:19:49 GMT -8
Crazy... couldn't imagine being able to keep track, check to see if your getting jobbed. Prob hire two independent firms?! If you work for a large company, and get transferred midyear from one state with an income tax to another, your W-2 will reflect that. Normally, you'll get one copy to attach to your state return, and the boxes showing your federal and state income will be the same, or close to. But, if you have multiple states, you'll get a different W-2 for each state. With numerous states in varying percentages involved, that gets pretty complex, even if you try to simplify it by scheduling. For example, the NBA schedule has the Lakers and Celtics playing each other just twice - once in Boston, once in LA. But what if they meet in the finals? And did the series go 4 games or 7? So I would imagine that all payroll is somehow funneled through the league office, so that only one entity is having to deal with that, not 32 (or however many teams they have). There's also the issue of withholding that needs to be factored in. Steph Curry, then, winds up with a fistful of W-2's - one for California, one for Oregon, one for Arizona, one for Oklahoma... He then has to find somebody knowledgeable about the tax laws in all these states to prepare all those returns. You can't go to H&R Block for that, and most local CPA's won't be fully on top of all of them either. Why would they be? If you practice in a metropolitan area of several million, there's fewer than 20 people there who will need this service. So my guess is there's one or two firms in each city wired in with the local NBA team, they do everybody's taxes, and they charge a ton for doing them - and rightfully so. |
|
