State income tax a stated factor in Shaq Barrett picking Mia over NYJ

[Jet Nut]

29 minutes ago, Sperm Edwards said:

It's not the only factor, but it clearly is a factor.

More accurately it was for Shaq 

[Sperm Edwards]

30 minutes ago, T0mShane said:

It’s a thing that agents tell to the player when the player is forced to take a below-market deal because they’re usually low-rung trash. “Sorry you had to take a journeyman contract, but it’s secretly 10% more (on eight checks) than you would have gotten if you signed with Team X (who likewise offered you a cut-rate deal).” Then the player gets in front of a camera and acts like they had a huge market but he chose the tax-free state. 

Players like Tyreek Hill, for example?

https://nypost.com/2022/10/03/tyreek-hill-picked-dolphins-over-jets-due-to-state-taxes/

With the Jets hosting the Dolphins this Sunday, the question of why Hill picked Miami resurfaced, and he gave a blunt answer. 

“It was very close to happening,” Hill told reporters on Monday, about nearly playing for the Jets. “Just those state taxes man. I had to make a grown-up decision.”

[mfmartin]

Way past argumentative lol. Out of touch with reality, or straight up trolling is much more accurate lol.. 

Yes, I am out of touch with reality.


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[bicketybam]

1 minute ago, KINGDIRK said:

I have four 20 something year olds reporting to me at work in midtown. They are young, certainly not rich and they absolutely love living in NYC. I’m sure rich athletes could do the same.   

The average rent of an apartment in NYC is 150% higher than the national average.

[jbt]

Miami is a bigger sh*t hole 

[Sperm Edwards]

Just now, Jet Nut said:

More accurately it was for Shaq 

Shaq listed 3 reasons. State tax was one of them.

Hill said it was the deciding factor for him. The idea that it's only scrubs and past-prime players making this decision is inaccurate. Just that most of them don't type it out on Twitter or say it so blatantly in interviews.

[mfmartin]

More accurately it was for Shaq 

I just watched his video. He mentioned state taxes, but he also talked extensively about not having to move his kids out of school in Tampa.


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[chirorob]

48 minutes ago, xboxjets said:

That is not how income tax's work. You pay tax on where you make money. For home games for Miami players they don't pay income tax. The same is true for visiting players. When Miami players come up to NY/NJ they have to pay income tax to that state. There is still a competitive advantage down in Florida for football players, but its not all or nothing. 

If it's 8 games a year in Florida vs NJ, it's state income tax on 8 games, which still can be a 7 figure difference on a 20 million salary.

Now, how does it apply to bonuses?

[mfmartin]

Players like Tyreek Hill, for example?
https://nypost.com/2022/10/03/tyreek-hill-picked-dolphins-over-jets-due-to-state-taxes/

With the Jets hosting the Dolphins this Sunday, the question of why Hill picked Miami resurfaced, and he gave a blunt answer. 

“It was very close to happening,” Hill told reporters on Monday, about nearly playing for the Jets. “Just those state taxes man. I had to make a grown-up decision.”

https://www.thescore.com/news/2857294/amp

Tyreek Hill (notable genius btw) says many things.



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[Sperm Edwards]

1 minute ago, jbt said:

Miami is a bigger sh*t hole 

Yes, but it's a sunny, warm shithole where (other than non-dome gamedays) you don't need to exclusively stay indoors for weeks/months at a time.

[Sperm Edwards]

Just now, mfmartin said:

 

https://www.thescore.com/news/2857294/amp

Tyreek Hill (notable genius btw) says many things.



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Can't you read? He's self-described as making grown-up decisions, pal.

[mfmartin]

Can't you read? He's self-described as making grown-up decisions, pal.

Did you click on the link? Sounds much different than grown up decisions.


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[bicketybam]

Why are people getting triggered by the fact that it's more expensive to live in the NY/NJ metro area than it is in other parts of the country? Are you guys real estate agents? WTF?

[Jetsfan80]

13 minutes ago, KINGDIRK said:

I have four 20 something year olds reporting to me at work in midtown. They are young, certainly not rich and they absolutely love living in NYC. I’m sure rich athletes could do the same.   

Cool.  Now have them move to Florham Park and adjust the experience accordingly.  

[TuscanyTile2]

1 hour ago, Sperm Edwards said:

Years ago we used to be able to get past that with NYC being such a draw: night life and media hub and higher endorsements made up for a lot of that. Now the city has become a disgusting s***hole again like when I was a kid, and with there no longer being a need to be in a high population state or city to get publicity for big endorsements & such, what is left?

New uni's?

[Barry McCockinner]

Why is it so hard for some people to believe players pay attention to tax rates? Tax rates are not imaginary. They are real and impact the bottom line for these guys.

holy crap

[Jet Nut]

6 minutes ago, Sperm Edwards said:

Shaq listed 3 reasons. State tax was one of them.

Hill said it was the deciding factor for him. The idea that it's only scrubs and past-prime players making this decision is inaccurate. Just that most of them don't type it out on Twitter or say it so blatantly in interviews.

I’m sure there are dozens of reasons why players choose to go to a team.  
As I said if you wanted to go to a team without state income tax and it came down to that team and another without the tax issue why can’t you come back to that team and ask for the extra $250K or $500K they’d get somewhere else?

[Jetsfan80]

19 minutes ago, mfmartin said:

 

They still have easy access to the city.

And why doesn’t it hold the appeal it used to?


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“Easy access.”  Amtrak rides or a car picking you up to fight traffic for an hour aren’t tremendous incentives my guy.

[TuscanyTile2]

32 minutes ago, Jetsplayer21 said:

lol come on bro. Day off at luxury resort in south beach with mad Hotties left and right, is a little more appealing than freezing your nuts in a loud extremely over crowded city dodging sewer rats size of cats.. 

I hate the Dolphins but, if I were a player and had my choice, I'd much rather play in Miami than in NJ.

[KINGDIRK]

6 minutes ago, bicketybam said:

The average rent of an apartment in NYC is 150% higher than the national average.

I’m 46, married with kids and don’t live in Manhattan. I wouldn’t pay 150% higher than average rent. My 15 year mortgage payment in Brooklyn is lower than any of the rents that the young kids reporting to me are paying. 

But my 20 somethings at work love it, even with prosperous rents because…the bars, clubs, restaurants, concerts, Knicks, Rangers, Broadway, off Broadway. I do enjoy some of those things occasionally but not like these kids. 

I just think if the kids that report to me are having the times of their lives, a rich athlete could do OK as well, lol.

 

[KINGDIRK]

18 minutes ago, Barry McCockinner said:

Remember when everyone was dunking on the NFL players who got paid in bitcoin? The $6.5 million he got paid in bitcoin is now worth $60.13 million.

Well done! I hope he sat on that for a while. 

[TuscanyTile2]

18 minutes ago, Barry McCockinner said:

Remember when everyone was dunking on the NFL players who got paid in bitcoin? The $6.5 million he got paid in bitcoin is now worth $60.13 million.

I completely forgot about this.  That ended up being an outstanding decision.  I just hope he has sold some ($6.5M plus the interest he would've gotten between then and now at a minimum) to lock in his profits.

[Jetsfan80]

The NFL offseason is in the winter, and you guys think Jets and Giants players spend that time in freezing cold NYC versus heading to warmer weather?

Delusional.  

[TuscanyTile2]

4 minutes ago, Barry McCockinner said:

Why is it so hard for some people to believe players pay attention to tax rates? Tax rates are not imaginary. They are real and impact the bottom line for these guys.

holy crap

Especially considering how short the average NFL career is.

[Barry McCockinner]

3 minutes ago, TuscanyTile2 said:

I completely forgot about this.  That ended up being an outstanding decision.  I just hope he has sold some ($6.5M plus the interest he would've gotten between then and now at a minimum) to lock in his profits.

when you understand bitcoin you don't sell it for fiat currency unless you need/want to buy something. Okung is a bitcoiner, I doubt he traded it for a lesser asset.

If you lived in Venezuala and bought dollars with your Bolivars you wouldn't sell some dollars for Bolivars to "lock in profit", would you?

same thing, different timeframe & scale.

[TuscanyTile2]

27 minutes ago, mfmartin said:

Yes, many of the players live in Morristown, etc. They still have access to the biggest city in the world that has a ton of nightlife.

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26 minutes ago, mfmartin said:

They still have easy access to the city.

And why doesn’t it hold the appeal it used to?


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The party scene is probably way better in Miami (e.g. South Beach) in the first place but you don't think these rich athletes can afford to fly to NYC to party when they want to?  

[TuscanyTile2]

1 minute ago, Barry McCockinner said:

when you understand bitcoin you don't sell it for fiat currency unless you need/want to buy something. Okung is a bitcoiner, I doubt he traded it for a lesser asset.

If you lived in Venezuala and bought dollars with your Bolivars you wouldn't sell some dollars for Bolivars to "lock in profit", would you?

same thing, different timeframe & scale.

I hear you loud and clear.  I'm not saying he should've saved his money in USD though. 

[hawk]

1 hour ago, Sperm Edwards said:

Players won't stand for that and they'll never agree to it; they'd strike before letting that be part of the CBA. That's why I threw out a proposal idea that wouldn't cost the players anything.

I'm not saying that they will, or that it is possible.

I am not an expert in tax law, but perhaps each team should form a company in a non taxed state for payroll.  

I'm sure it isn't overly complicated.  

At the end of the day, I don't think it is a big a deal as it's made out to be.

If a player chooses a team for income tax, it's probably not a player I'd want in the first place.

[bla bla bla]

1 hour ago, xboxjets said:

That is not how income tax's work. You pay tax on where you make money. For home games for Miami players they don't pay income tax. The same is true for visiting players. When Miami players come up to NY/NJ they have to pay income tax to that state. There is still a competitive advantage down in Florida for football players, but its not all or nothing. 

You're correct but what he is saying is that "signing bonuses" and "roster bonuses" are lump sum payments that help spread cap out over multiple years. Because it's paid out in 1 installment, they entirety of that bonus is un-taxed thus leaving a very low base salary that gets taxed at what you are saying.

Comparatively if the Jets pay out a signing bonus or roster bonus, it gets hit for the taxes so the player loses a lot more.

[bla bla bla]

1 hour ago, Barry McCockinner said:

I mean chatGPT can get us mostly there in 30 seconds. why can't the league figure this out?

 

I feel like it would be as easy as saying the salary cap is determined post-tax lol the only negative is the Billionaires need to fork over more for equal contracts.

[peekskill68]

I would have thought the opportunity to play for Woody and a staff that is coaching to where football is going would overcome weather, taxation and cat sized sewer rats....

[mfmartin]

“Easy access.”  Amtrak rides or a car picking you up to fight traffic for an hour aren’t tremendous incentives my guy.

I’m sure they are fine in a private car for a hour


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[sciond]

1 hour ago, Robert said:

We know our states sucks  NY and NJ

and we specifically know WHY our states suck

but we don’t have the smartest voters  to fix the problems

Please don’t rub it in

Truth..

 I left and you could not drag me back...

[Jetsfan80]

1 minute ago, mfmartin said:

 

I’m sure they are fine in a private car for a hour


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lol

[mfmartin]

I would have thought the opportunity to play for Woody and a staff that is coaching to where football is going would overcome weather, taxation and cat sized sewer rats....

Unfortunately Gase left.


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