4 ms·

I don’t know about having more talent, but amazon definitely has more ego...At least LeBron didn’t demand special tax deals and non-public data from cities to b

I don’t know about having more talent, but amazon definitely has more ego...At least LeBron didn’t demand special tax deals and non-public data from cities to bring his talents.

dagoat 8y ago
> At least LeBron didn’t demand special tax deals and non-public data from cities to bring his talents. As is common with other, bigger ego, basketball players
joejerryronnie 8y ago
No, Lebron just demands the coach be fired, management take on horrible contracts for Lebron's buddies, and all organizational decisions be run by him. Truly, Lebron's lack of ego is staggering.
robterrell 8y ago
OMG don't give basketball players this idea. Cities would totally write tax exemptions into law to land LeBron!
- josephv 8y ago
  Haha, this is brilliant. Exempt NBA Star X from all state income tax if they play for the team - that seems completely believable. Obviously NBA rules relate to tampering would come into play, but it would be a compelling story for the 24 hour sports new cycle. I've read about athletes at least considering the income tax of a state in their decision, but I'm not sure it's ever been a deciding factor.
  - wolco 8y ago
    Tampering? Not if the law was written to say anyone making over 25 million playing professional basketball. Getting reelected will be an issue.
balls187 8y ago
Unfortunately it doesn't work like that. First, state income tax is exactly that, income tax imposed by the state, and governed by the state. There may be local jurisdictions that impose additional income tax but any savings there would be trivial. While sports are important to the local economy, my understanding is that they are relatively minor at the state level. Second, LeBron (and other athletes) earn playing income in every jurisdiction they play in, not based solely on the jurisdiction that the team is based in. This means they are responsible for filing taxes in each of these jurisdiction. In addition to playing income, they make money through endorsements and other investments. These are considered income in whatever state they claim is their residence. It's in a players interest to establish a residence in an area with favorable tax laws. Cities may try to woo elite players to join them, but tax savings isn't very compelling.
- CWuestefeld 8y ago
  LeBron (and other athletes) earn playing income in every jurisdiction they play in, not based solely on the jurisdiction that the team is based in. ... This means they are responsible for filing taxes in each of these jurisdiction. Do you have a citation for this? I'm skeptical. I live and work in Texas. When I travel to my company's office in NJ, effectively earning income for a week in that state, I don't pay NJ income tax on that income.
  - cpmsmith 8y ago
    Apparently you technically should, but you aren't expected to because it would be impractical. https://en.wikipedia.org/wiki/Jock_tax https://en.wikipedia.org/wiki/Jock_tax
  - balls187 8y ago
    Unfortunately I am not an accountant and cannot give you tax advise, however, NJ has a non-resident income tax form, which you may be required to file: https://www.state.nj.us/treasury/taxation/taxtables.shtml https://www.state.nj.us/treasury/taxation/taxtables.shtml Edit to add: According to my interpretation of this: https://www.state.nj.us/treasury/taxation/pdf/current/1040nri.pdf https://www.state.nj.us/treasury/taxation/pdf/current/1040nr... Assuming your income is over $20,000, you ARE required to file a NJ state tax return. Also, note that even if you don't file a tax return, doesn't mean you are exempted from doing so. Example, as a citizen of Texas, you are also required to pay use tax on any items aquired out of state/country and used in the state. My assumption is that you don't also pay that either, even thought you are legally required to do so. It turns out that use Tax is particularly difficult to audit and collect for, especially without a mandatory return like state income tax.
xzel 8y ago
Ironically, wasn't that one of the reasons people speculated during that process as to why he chose Miami, no income tax? Its obviously not some sweetheart deal but he could have formed a super team in any city that was willing to pay a few super max-ish contracts.

I don’t know about having more talent, but amazon definitely has more ego...At least LeBron didn’t demand special tax deals and non-public data from cities to bring his talents.

dagoat 8y ago

> At least LeBron didn’t demand special tax deals and non-public data from cities to bring his talents. As is common with other, bigger ego, basketball players

joejerryronnie 8y ago

No, Lebron just demands the coach be fired, management take on horrible contracts for Lebron's buddies, and all organizational decisions be run by him. Truly, Lebron's lack of ego is staggering.

robterrell 8y ago

OMG don't give basketball players this idea. Cities would totally write tax exemptions into law to land LeBron!

josephv 8y ago
Haha, this is brilliant. Exempt NBA Star X from all state income tax if they play for the team - that seems completely believable. Obviously NBA rules relate to tampering would come into play, but it would be a compelling story for the 24 hour sports new cycle. I've read about athletes at least considering the income tax of a state in their decision, but I'm not sure it's ever been a deciding factor.
- wolco 8y ago
  Tampering? Not if the law was written to say anyone making over 25 million playing professional basketball. Getting reelected will be an issue.

balls187 8y ago

Unfortunately it doesn't work like that. First, state income tax is exactly that, income tax imposed by the state, and governed by the state. There may be local jurisdictions that impose additional income tax but any savings there would be trivial. While sports are important to the local economy, my understanding is that they are relatively minor at the state level. Second, LeBron (and other athletes) earn playing income in every jurisdiction they play in, not based solely on the jurisdiction that the team is based in. This means they are responsible for filing taxes in each of these jurisdiction. In addition to playing income, they make money through endorsements and other investments. These are considered income in whatever state they claim is their residence. It's in a players interest to establish a residence in an area with favorable tax laws. Cities may try to woo elite players to join them, but tax savings isn't very compelling.

CWuestefeld 8y ago
LeBron (and other athletes) earn playing income in every jurisdiction they play in, not based solely on the jurisdiction that the team is based in. ... This means they are responsible for filing taxes in each of these jurisdiction. Do you have a citation for this? I'm skeptical. I live and work in Texas. When I travel to my company's office in NJ, effectively earning income for a week in that state, I don't pay NJ income tax on that income.
- cpmsmith 8y ago
  Apparently you technically should, but you aren't expected to because it would be impractical. https://en.wikipedia.org/wiki/Jock_tax https://en.wikipedia.org/wiki/Jock_tax
- balls187 8y ago
  Unfortunately I am not an accountant and cannot give you tax advise, however, NJ has a non-resident income tax form, which you may be required to file: https://www.state.nj.us/treasury/taxation/taxtables.shtml https://www.state.nj.us/treasury/taxation/taxtables.shtml Edit to add: According to my interpretation of this: https://www.state.nj.us/treasury/taxation/pdf/current/1040nri.pdf https://www.state.nj.us/treasury/taxation/pdf/current/1040nr... Assuming your income is over $20,000, you ARE required to file a NJ state tax return. Also, note that even if you don't file a tax return, doesn't mean you are exempted from doing so. Example, as a citizen of Texas, you are also required to pay use tax on any items aquired out of state/country and used in the state. My assumption is that you don't also pay that either, even thought you are legally required to do so. It turns out that use Tax is particularly difficult to audit and collect for, especially without a mandatory return like state income tax.

xzel 8y ago

Ironically, wasn't that one of the reasons people speculated during that process as to why he chose Miami, no income tax? Its obviously not some sweetheart deal but he could have formed a super team in any city that was willing to pay a few super max-ish contracts.