Sperm Edwards Posted March 19 Share Posted March 19 2 hours ago, 32EBoozer said: Well…. Only Miami in the division. Tennessee & Jacksonville games are away. Total of 3 games vs. 9 for LV LV having 8 home and 1 away game (TB) where income not taxed. Figure he gets a 2 yr. $24 mil contract with $10 mil guaranteed. For arguments sake we’ll split it evenly per year for $h!ts & giggles. 🤭 $705,882 per game x 8 home games = $5,647,058 x 10.75% NJ tax = $607,058 in state tax LV benefit: I’m sure some of the accountants on the board will shred my simplistic assessment of the tax law, but regardless, LV does have an advantage in distance from SD, tax rate, state of the art stadium and a few others I will leave out. It's a bigger advantage than you're making out, because no one's forcing him to receive all his money as base salary. There's up front bonus money that often (if not typically) exceeds the y1 base salary amount. All of that would theoretically be taxed in the team's home state. In the case of Vegas, that's 0%. 2 years $24MM, and then throw on top of that 2 void years added. $10MM guaranteed is way too light. It'd never happen. No one of substance is signing a contract with less money guaranteed than the average amount. So bare minimum it'd be $12MM and in reality it'd likely be a bit over that to give the team a disincentive to cutting him early. 2 years $24MM would therefore come with $12-14MM guaranteed. Split the baby and call that $13MM, paid out in y1 as $12MM in signing bonus, per game roster bonuses, workout bonus; plus then $1MM salary. The $12MM bonus money would be fully (state income) tax free in Vegas, as well as half the teams' home games, whereas here ~95% of it would be taxed at 10.75% in NJ (in round numbers. So he'd lose around $1.2MM of (after-tax) cash to NJ instead of keeping that tax-free $ in NV. Further note that he can't deduct that $1.2MM NJ state tax from his federal taxes anymore (or anyway, barely any of it). Then in y2 it depends on whether he restructures or not, if the team could use further extra cap room. If it's all (or almost all) salary in y2 then look at scenarios that only factor in home vs. away games. Quote Link to comment Share on other sites More sharing options...
rangerous Posted March 19 Share Posted March 19 7 hours ago, 32EBoozer said: Certainly a lot easier relocating to LV than NY. Hoping that having an opportunity to play with Rodgers overrides Minishew & O’Connell, no state income tax & DA opposite you & Raiders with more Cap Space Our odds aren’t great. He could buy Zach’s house. Quote Link to comment Share on other sites More sharing options...
32EBoozer Posted March 19 Share Posted March 19 1 hour ago, Sperm Edwards said: It's a bigger advantage than you're making out, because no one's forcing him to receive all his money as base salary. There's up front bonus money that often (if not typically) exceeds the y1 base salary amount. All of that would theoretically be taxed in the team's home state. In the case of Vegas, that's 0%. 2 years $24MM, and then throw on top of that 2 void years added. $10MM guaranteed is way too light. It'd never happen. No one of substance is signing a contract with less money guaranteed than the average amount. So bare minimum it'd be $12MM and in reality it'd likely be a bit over that to give the team a disincentive to cutting him early. 2 years $24MM would therefore come with $12-14MM guaranteed. Split the baby and call that $13MM, paid out in y1 as $12MM in signing bonus, per game roster bonuses, workout bonus; plus then $1MM salary. The $12MM bonus money would be fully (state income) tax free in Vegas, as well as half the teams' home games, whereas here ~95% of it would be taxed at 10.75% in NJ (in round numbers. So he'd lose around $1.2MM of (after-tax) cash to NJ instead of keeping that tax-free $ in NV. Further note that he can't deduct that $1.2MM NJ state tax from his federal taxes anymore (or anyway, barely any of it). Then in y2 it depends on whether he restructures or not, if the team could use further extra cap room. If it's all (or almost all) salary in y2 then look at scenarios that only factor in home vs. away games. 2 Quote Link to comment Share on other sites More sharing options...
Jet_Engine1 Posted March 19 Share Posted March 19 1 hour ago, Sperm Edwards said: It's a bigger advantage than you're making out, because no one's forcing him to receive all his money as base salary. There's up front bonus money that often (if not typically) exceeds the y1 base salary amount. All of that would theoretically be taxed in the team's home state. In the case of Vegas, that's 0%. 2 years $24MM, and then throw on top of that 2 void years added. $10MM guaranteed is way too light. It'd never happen. No one of substance is signing a contract with less money guaranteed than the average amount. So bare minimum it'd be $12MM and in reality it'd likely be a bit over that to give the team a disincentive to cutting him early. 2 years $24MM would therefore come with $12-14MM guaranteed. Split the baby and call that $13MM, paid out in y1 as $12MM in signing bonus, per game roster bonuses, workout bonus; plus then $1MM salary. The $12MM bonus money would be fully (state income) tax free in Vegas, as well as half the teams' home games, whereas here ~95% of it would be taxed at 10.75% in NJ (in round numbers. So he'd lose around $1.2MM of (after-tax) cash to NJ instead of keeping that tax-free $ in NV. Further note that he can't deduct that $1.2MM NJ state tax from his federal taxes anymore (or anyway, barely any of it). Then in y2 it depends on whether he restructures or not, if the team could use further extra cap room. If it's all (or almost all) salary in y2 then look at scenarios that only factor in home vs. away games. I wonder if anyone in the New Jersey State Government realizes any of this!! LOL Just let people pump their own gas like the rest of the damn planet and lower the tax rate! Its KILLING my Football Team!! 😁 1 Quote Link to comment Share on other sites More sharing options...
neckdemon Posted March 19 Share Posted March 19 7 hours ago, 32EBoozer said: Certainly a lot easier relocating to LV than NY. Hoping that having an opportunity to play with Rodgers overrides Minishew & O’Connell, no state income tax & DA opposite you & Raiders with more Cap Space Our odds aren’t great. Supposedly Douglas offering less money thinking he will take less to play for the jets???? Why?? The jets have sucked his entire tenure here... Quote Link to comment Share on other sites More sharing options...
83Kelly2Allen18 Posted March 19 Share Posted March 19 I want Tyler Boyd too Quote Link to comment Share on other sites More sharing options...
rayzor Posted March 19 Share Posted March 19 Jeudy just got a 3 year contract extension worth up to $58M, including $41M fully guaranteed at signing from the Browns. This might be impactful. Quote Link to comment Share on other sites More sharing options...
32EBoozer Posted March 19 Share Posted March 19 4 minutes ago, rayzor said: Jeudy just got a 3 year contract extension worth up to $58M, including $41M fully guaranteed at signing from the Browns. This might be impactful. Wow… BIG overpay! Get Williams signed now before the agent sees that news! 2 Quote Link to comment Share on other sites More sharing options...
talisaynon Posted March 19 Share Posted March 19 **** this guy. Draft MH2. Quote Link to comment Share on other sites More sharing options...
32EBoozer Posted March 19 Share Posted March 19 20 minutes ago, talisaynon said: **** this guy. Draft MH2. So other teams have agreed to stay away from drafting him? Quote Link to comment Share on other sites More sharing options...
Mogglez Posted March 19 Share Posted March 19 1 hour ago, rayzor said: Jeudy just got a 3 year contract extension worth up to $58M, including $41M fully guaranteed at signing from the Browns. This might be impactful. Agreed. Unless Williams and his agent are locked in a room where there is no cell service, I think he is going to take his sweet ass time now. No reason for them not to unless he really wants to be here. Quote Link to comment Share on other sites More sharing options...
Mogglez Posted March 19 Share Posted March 19 22 minutes ago, Mogglez said: Agreed. Unless Williams and his agent are locked in a room where there is no cell service, I think he is going to take his sweet ass time now. No reason for them not to unless he really wants to be here. 4 concrete walls with no signal. Nice job Joe Douglas! 1 Quote Link to comment Share on other sites More sharing options...
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