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Interesting that no one has raised the implications of this on the taxable income in the state. Given budget shortfalls in the state, and 50-some NCAA instituti
by andrew_ 7y ago
Interesting that no one has raised the implications of this on the taxable income in the state. Given budget shortfalls in the state, and 50-some NCAA institutions with several power programs, this would surely be a welcomed source of revenue for the State government. It begs the question of intent behind the law.
- holler 7y agoThis is precisely what I just thought about. CA has some of the highest income tax rates in the US with 10.3% for income over $275k -> 13.3% for income over $1million. From a tax revenue standpoint, this is a no brainer. If other states end up adopting this rule successfully and I were an athlete, I'd probably consider playing in a state that has a more favorable income tax or none at all like NV, WA, WY, FL.