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Tyreek Hill acknowledges NY/NJ state taxes played role in decision to go to Dolphins


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1 hour ago, Xtina said:

You’re joking right?

https://work.chron.com/much-subsidized-farmers-paid-20223.html

“Excluding loans and insurance payments, farmers received a record $46.5 billion from the government for 2020. That includes pandemic-related food relief, compensation for low prices and compensation for lost trade due to tariff disputes. The money was divided among what the United States Department of Agriculture (USDA) says were 2.2 million farms.”

And there’s no relationship between local and federal taxes … 🥱😏😒

Ever met a poor farmer? Yeah, me neither. 

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1 hour ago, greenwave81 said:

I'm not sure about that, but it just seems in this case that with a REVENUE SHARING LEAGUE with a 'hard cap'...and with some teams/players having a higher cost of doing business in their environment, things should be made more equal.

How can you have a 'hard cap' with teams in different tax environments and have it be fair/equitable?  In this example, the Dolphins gave Tyreek $30M/yr say...to match that the NYJ would have had to offer $33 mill to get the same pay to the player.  As far as Woody's money, well that's on him (and it is)...but that extra $3 million if Woody decided to pay it counts against OUR cap.

Found it.

 

 

Screenshot_20221003-211728.png

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9 hours ago, greenwave81 said:

Hmmm...so other than a 4 page debate on the relative merits of NY/non-NY pizza and bagels (we have plenty of good pizza and bagel choices here in N FL St Augustine where you can't swing a dead cat without hitting a fellow NYer) or everyones weather preferences, since this a NYJ football board and this issue affects the NYJ and other NFL teams based on their 'location' when it comes to signing FA's and the fact that to pay a FA an equal amount of 'take home' pay would require the NYJ to lay out like 10% more per season AND count that 10% premium against our 'cap'...can we debate/opine as to whether this needs to be accounted for by the league?  Seems it's pretty important overall despite what you may or may not have wanted in this particular case.

Florida sucks ….lol

all

kidding aside. Don’t you pay the taxes of the state the game is played in? After all the away games. Does it all come out relatively the same?

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27 minutes ago, Anthony Jet said:

Florida sucks ….lol

all

kidding aside. Don’t you pay the taxes of the state the game is played in? After all the away games. Does it all come out relatively the same?

You get taxed for 9 or 10 games in your home market. Comparing NJ income tax to no income tax? Probably a pretty nice difference at the $30M/year level.

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1 hour ago, Anthony Jet said:

Florida sucks ….lol

all

kidding aside. Don’t you pay the taxes of the state the game is played in? After all the away games. Does it all come out relatively the same?

Yes... a Florida player pays tax in all states where he plays. So..at least 50 percent of his income is NOT taxed.

Then, endorsement money is Florida domicile as well. Huge difference.

 

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18 minutes ago, southparkcpa said:

Yes... a Florida player pays tax in all states where he plays. So..at least 50 percent of his income is NOT taxed.

Then, endorsement money is Florida domicile as well. Huge difference.

 

OT here. But how much does the avg person save by living in Florida as opposed to NYC? Say making 100k a year ?

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4 minutes ago, southparkcpa said:

I would say about  8K -10K .   4 percent NYC tax, 7-8 NY depends on deductions etc....

 

Cost of housing.  Cost of car insurance.  Property taxes.

Where I live in TX (DFW area) houses have skyrocketed the last 3 years, and it's still cheaper than where I grew up in NJ.

NJ house, 3 bed, 1 bath, 1200 sq feet plus basement and 1 car garage.    This area, less money, 2200 sq feet with a pool, 2 car garage, good schools.

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18 hours ago, 56mehl56 said:

I hope Sauce steals his wallet on Sunday . 💵

I really hope they let Gardner play man and follow him around.  Cover up Waddle with over the top help.  

I'd probably have a LB with the TE who had been under utilized thus far, but our defense against TEs always suck.

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1 minute ago, hawk said:

I really hope they let Gardner play man and follow him around.  Cover up Waddle with over the top help.  

I'd probably have a LB with the TE who had been under utilized thus far, but our defense against TEs always suck.

I don't mind giving it a try but this might be the wrong week to go that route ...

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2 minutes ago, Barry McCockinner said:

I don't mind giving it a try but this might be the wrong week to go that route ...

This was a conversation at some point during training camp.  Then we saw video that he isn't a prototype long Corner, he was able to stick with someone that surprised us.  At least to the point there was a conversation. 

 

That said, Hill is also not human, so....

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18 hours ago, Warfish said:

I don't know that I would agree with that my friend.  

Bagels, those are lacking, no question.

But I think there are several places that do a "close enough" pizza.

Or maybe you lived in NY longer than me, and have better taste, that's always possible. 

For me "NY Pizza' is really just "Vincent's in Lynbrook".

I'm actually surprised how meh the pizzas I've had in NYC in my adult years have been mostly.

Good Pizza can be found anywhere in the country. Maybe it's not abundant in other places as the tristate, but its definitely there.

Good Bagels are only in Jersey, NYC, LI and Westchester. 

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There has to be something to it because didn't Jeter and NY State have an issue back in his playing days where he was saying he was actually a Florida resident? If I remember correctly, they came to a settlement and NYS backed off on any future stuff and left it alone as him being from Florida. 

Also, in the NFL guys have roster bonuses, workout bonuses...it all adds up. 

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15 hours ago, Jet9 said:

Ever met a poor farmer? Yeah, me neither. 

Have you met many farmers?

Close to 50 years of life, mostly in NY and DC, and I can say I don't think I've met many.

And the ones I did meet the farming was for something else, like a Distillery or Winery.

Maybe you have more experience meeting farmers than I do...

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7 hours ago, southparkcpa said:

Yes... a Florida player pays tax in all states where he plays. So..at least 50 percent of his income is NOT taxed.

Then, endorsement money is Florida domicile as well. Huge difference.

 

It's a lot more than 50%. Even more than the game checks is the initial signing bonuses & any future roster & restructure bonuses (especially those first couple seasons). I'm sure that's 100% taxed at the state's rate (0%) as well. 

Year 1 Hill got about $30MM. $25MM of it was signing bonus (i.e. no state tax on 5/6 of that 1st year payout). Half the games are in no-tax states, so that remaining 1/6 cuts to roughly 1/12, or $2.5MM of that $30MM that'd be subject to state income taxes.

Compare that to getting a $25MM signing bonus from the Jets. Basically he'd be paying state income tax on all games except any random road games in Miami, Tampa, Jacksonville, Seattle, Houston, Dallas, Vegas, and I think Nashville; only one of those locales is in the Jets' division.

That's just year 1.

Now jump to year 2. $10MM of his $26MM is roster bonus. Half of the $16MM, is played in FL, so that leaves just $8MM out of $26MM being subject to state income taxes with the other $18MM getting no state income tax.

Then as likely as not by year 3 there'll be some more renegotiation to clear some cap space, resulting in still more that's only subject to FL's jurisdiction of no state income tax.

So it's not saving on just the home games; he can get his contract in big lump bonus checks instead, all of it with no state income tax.

The endorsement money... that one's hard to call. I guess some could just write the checks to him, payable when he's in FL in the offseason, if it's not a local endorsement. Of the rest, it's possible he'd get paid a 10+% higher rate by local NY businesses than greater-Miami area ones, which would eliminate that disparity, but I know little about that.

Anyway on balance yeah it wasn't even close. By signing with Miami instead of the Jets, he likely saved more $ in taxes than most fans watching him will accumulate in lifetime AGI totals.

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58 minutes ago, Warfish said:

Have you met many farmers?

Close to 50 years of life, mostly in NY and DC, and I can say I don't think I've met many.

And the ones I did meet the farming was for something else, like a Distillery or Winery.

Maybe you have more experience meeting farmers than I do...

Yes. Lived in Sussex County as a younger kid and when I was in Ft Myers my family down there is friends with a bunch out near LaBelle, Immokolee. They always had more ATVs and **** around toys than I had tires on my car, including the spare. 

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6 minutes ago, nj meadowlands said:

There should be some cap rules to balance this kind of stuff out, IMO.

I think that's easier said than done.

Even giving high tax states more cap room doesn't work, because the annual contract inflation won't continually be limited to those states. Allow the Jets to pay a guy more if he's in NY? OK fine, but the next contract for an identically-priced player will base his next contract on that NY-player's most recent deal and will still get that contract in whatever state's team offers it to him. IOW it won't solve this problem; the best players will still get the same size contract no matter which teams they sign with, and some will have higher tax rates than others.

I think you'd have to get every (state) jurisdiction to sign on to an equalized tax rate (almost a national state tax rate for sports salaries). Federally I don't think the government can legally pick which professions pay a lower or higher tax rate (but anyone who knows better can chime in). So the states would have to agree on that level, and fat chance of that happening. High tax states aren't going to want to share their collected state taxes with no-tax states, and they know their states' teams will fill their rosters to the cap limit with or without any interstate deal. 

Anyway as things sit now, in the absence of such an agreement, I'd think the NFL can't overrule individual state laws (let alone all of them). Players get taxed in the state where the game is played.

Only thing I can think of is there's a correction purely in terms of salary cap limits, though that does put an extra burden on owners in those states. If such an adjustment affected revenue share, you'd have to get those team owners from no/low tax states to sign on also, knowing it'd cost them money. Since there's nothing in it for them to give up a built-in advantage like that (and have it cost them money to do so, no less), I think we revert to that not being a viable plan.

Best way to overcome it? Build a winning program and players will come here anyway -- even when they have other opportunities, figuring they may be more likely to see those non-guaranteed years get paid than if they play with a franchise like the Jets from the last decade-ish.

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5 hours ago, hawk said:

This was a conversation at some point during training camp.  Then we saw video that he isn't a prototype long Corner, he was able to stick with someone that surprised us.  At least to the point there was a conversation. 

 

That said, Hill is also not human, so....

If I'm Miami and I see any rookie corner one on one with Hill, I'm throwing his way.

I put sauce on Waddle, and double hill the whole game.

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On 10/3/2022 at 4:35 PM, Warfish said:

New York/New Jersey isn't worth living in when you make tens of millions and you can make the same amount anywhere that has an NFL city. 

Not everyone in the US sees New York the way New Yorkers see New York, especially the appeal of living there.

Pay a literal ton less taxes, live somewhere amazingly beautiful with year-long amazing weather (well, not so much last week...), that will have a ton of appeal to young kids in the NFL.

This is something that ultra-high-tax States, and truly poop-weather States simply have to live with.  

It's all personal preference, but IMO Florida has horrible weather.  Hot, humid, rainy, and the storms (as we have just seen).  It's ok for a getaway in January/February, but I'd rather have my teeth pulled than live in Florida.  

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1 hour ago, chirorob said:

If I'm Miami and I see any rookie corner one on one with Hill, I'm throwing his way.

I put sauce on Waddle, and double hill the whole game.

That is probably a smarter plan, although, I would like to see what he could do.

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