Cusefan0307
Red recruits the ACC!
- Joined
- Dec 21, 2011
- Messages
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There’s the difference. Lampkin will be working here.Why? I don't work in NY.
There’s the difference. Lampkin will be working here.Why? I don't work in NY.
Why would it be earned in NY? If structured properly it could be earned in Texas.Where is your money made? I work in multiple states and have to file in the states I work including NY. Lampkins money would be earned in NY. It’s called a non resident tax return.
Working here? That's funny.There’s the difference. Lampkin will be working here.
He wouldn't have toThere’s the difference. Lampkin will be working here.
Virtually all of our NIL advertising appears to be local. There’s also the fact he’s playing and practicing IN Syracuse. Maybe the tournament we go to in 25 will change this, but I don’t see how any accountant or lawyer can solve the fact he plays for Syracuse and is doing marketing activities for local Syracuse businesses. What car dealership wants to see his face in Texas if he plays here?He wouldn't have to
" be working here" in order to satisfy his NIL.
When an individual who lives in Texas does a commercial for lets say Ford trucks and that advertisement is aired on ESPN in all 50 states does he pay income taxes in all 50 states or just Texas. That's your answer. IF it is structured properly income taxes should applicable based on the endorsers residence.
If thought out it doesn't have to be local. Does it matter if he visits a senior care facility in DeWitt or Houston. My point is that there are legitimate ways to mitigate the taxable issues.Virtually all of our NIL advertising appears to be local. There’s also the fact he’s playing and practicing IN Syracuse. Maybe the tournament we go to in 25 will change this, but I don’t see how any accountant or lawyer can solve the fact he plays for Syracuse and is doing marketing activities for local Syracuse businesses. What car dealership wants to see his face in Texas if he plays here?
Too good of a poster to go after people. And he is close lolBecause you are a bit too negative for me. I doubt he is the worst defensive center in the country.
You have to intend to reside there. Doesn’t mean you won’t get taxed in the state in which you earn. Pro athletes have to pay city taxes in most cities in which the play road games.Paging a resident accountant…. Stat
I’m not an accountant but 99% sure you get taxed according to residency. It would be very difficult for any Cuse player to claim residency in a different state. Given you live on campus, attend school, etc. Also you have to spend more than half your time outside the state
Dave was a heck of a boxer not so sure about his legal skillsNot the guys. Ithaca Matt could do it.
Where do you work?If I do work for a company incorporated out of Delaware, but the construction is done in Texas, where do I pay state income taxes?
You have to intend to reside there. Doesn’t mean you won’t get taxed in the state in which you earn. Pro athletes have to pay city taxes in most cities in which the play road games.
As a student it's simple. You pay taxes based on your home state. The state were your permanent residence, Your driver's license ect.. is.You have to intend to reside there. Doesn’t mean you won’t get taxed in the state in which you earn. Pro athletes have to pay city taxes in most cities in which the play road games.
This is a good post.
Sorry, misread your post.Why? I don't work in NY.
That's exactly what I was going to say based on my experience working for different companies over the years remote.I’m not an accountant but 99% sure you get taxed according to residency. It would be very difficult for any Cuse player to claim residency in a different state. Given you live on campus, attend school, etc. Also you have to spend more than half your time outside the state
You’re considered nonresident for tax purposes but would still have to file a return for the income earned while in NY. Now if you can claim it was earned elsewhere as you state….im sure you can try.As a student it's simple. You pay taxes based on your home state. The state were your permanent residence, Your driver's license ect.. is.
It's why you pay OUT OF STATE TUITION.
Not sure who your account is but this isn't complicated if it's structured properly.
Omg, kill me now. How has this turned into a state income tax discussion. Good grief.He wouldn't have to
" be working here" in order to satisfy his NIL.
When an individual who lives in Texas does a commercial for lets say Ford trucks and that advertisement is aired on ESPN in all 50 states does he pay income taxes in all 50 states or just Texas. That's your answer. IF it is structured properly income taxes should applicable based on the endorsers residence.
Students are different. It's why even though they spend more than 6 months living and going to school in a particular state they still have to pay out of state tuition unless they go to an in state school.That's exactly what I was going to say based on my experience working for different companies over the years remote.
I was looking at it from the perspective of being an adult in the work force. You’re right about students. Not sure if earning big $$$ changed the view of the IRS.As a student it's simple. You pay taxes based on your home state. The state were your permanent residence, Your driver's license ect.. is.
It's why you pay OUT OF STATE TUITION.
Not sure who your account is but this isn't complicated if it's structured properly.
I agree. My point is that if structured properly and legally our SU collectives could possibly reduce the taxable amount and make it more difficult for an individual to back out of their commitment/agreement.You’re considered nonresident for tax purposes but would still have to file a return for the income earned while in NY. Now if you can claim it was earned elsewhere as you state….im sure you can try.
NY is very aggressive in auditing folks who try to avoid paying tax on income they deem was earned in NY. If the collective is based in NY, it’s going to be an uphill climb. I suspect we will see this play out over the next few years in some audited. I admit I don’t know how collectives pay the kids. I think a lot are monthly but are they taking out payroll taxes like an employer or just doing everything as 1099 folks? Then you have appearances for local businesses. Or commercials. Those are definitely earned in ny.
Lampkin coming to Syracuse!Can someone in the know summarize the last 40 pages? Much appreciated.
Pretty much sums up every post these days. I miss the forum of about 6 years ago...Lampkin coming to Syracuse!
Lampkin not coming to Syracuse!
Our NIL is a disaster and our HC and AD are idiots. And Lampkin has no honor.
Lampkin coming to Syracuse!
Big mysterious donor is awesome. Our AD and HC are NOT idiots.
Lampkin is okay after all.
Let’s talk about taxes.