Hope Mario Cristobal will be able to survive on this.

[RyanCuse44]

 

[ImperialOrange]

In this economy?!

 

[hoopsupstate]

And he still doesn’t know when to take a knee. Great recruiter but a poor game coach.

 

[721Comstock]

That’s hardly anything after taxes and his agent’s cut.

 

[JarHeadJim]

and no state income tax in Florida!

 

[HastingsCuse]

and no state income tax in Florida!

He'll still pay state income tax - the "jock tax" - when his team has games in other states.

 

[upperdeck]

Do players have to pay a tax when "working" in other states for games for the NIL money they are being paid?

 

[JRHEETER]

Do players have to pay a tax when "working" in other states for games for the NIL money they are being paid?

No because NIL isn’t pay for play

 

[upperdeck]

No because NIL isn’t pay for play

I think there is confusion on the pay for play rulling though.. You cant pay them for playing.. You can pay them NIL for being on a team which generates the interest in the NIL.. So if you are being paid for being on a team and that team plays a game then why wouldnt it be taxable?

 

[CNYGuy]

He'll still pay state income tax - the "jock tax" - when his team has games in other states.

This is something I never thought about for coaches.

Not to derail the thread but Any accountants on here know if this is the case for salaried coaches? Would think those games would fall more under out of state business trips as opposed to in the NFL where you’re paid per game and said games take place in various states.

 

[upperdeck]

if you look at some tax laws you would think they would. But in the long run it nets out to almost nothing for the players since you dont get taxed twice,

its complicated thing even for an avg worker. Remote work is taxed and we have some states that we cant hire remote workers from because of tax laws

 

[SuFTW]

$7.7 million base pay and $14.9 million in other reportable compensation believed to cover his $9 million buyout he owed to Oregon per USA Today article.

 

[Domedog84]

I think there is confusion on the pay for play rulling though.. You cant pay them for playing.. You can pay them NIL for being on a team which generates the interest in the NIL.. So if you are being paid for being on a team and that team plays a game then why wouldnt it be taxable?

It isn't tied to them playing or being on a team.

 

[SuFTW]

I think there is confusion on the pay for play rulling though.. You cant pay them for playing.. You can pay them NIL for being on a team which generates the interest in the NIL.. So if you are being paid for being on a team and that team plays a game then why wouldnt it be taxable?

Do pro players pay taxes in other states? I never heard this come up before

Edit: but apparently they do!

https://www.jacksonhewitt.com/tax-help/jh-tax-talk/do-baseball-players-pay-state-taxes/

Here's How Professional Athletes Pay Taxes

Athletes earn a lot, but they also have to be aware of additional taxes and rules that typical taxpayers don't have to worry about. Read on to learn more.

www.fool.com

 

[HastingsCuse]

Yes the Jock Tax applies to Coaches, trainers, and staff that travel including games and practices. Here is an article about the Jock Tax and taxes owed by coaches that participated in the 2019 Final Four in Minnesota:

The March Madness Jock Tax

Did you know that any athlete, coach, trainer or staff that is being paid to travel, participate in a game or that wins money for participating in a game has to pay what they call a “jock tax” for the state in which they compete?

www.paycheckcity.com

 

[JRHEETER]

I think there is confusion on the pay for play rulling though.. You cant pay them for playing.. You can pay them NIL for being on a team which generates the interest in the NIL.. So if you are being paid for being on a team and that team plays a game then why wouldnt it be taxable?

It can never be tied to them playing or being on a certain team

Technically all NIL deals are paying for the players “Name Image and Likeness”

 

[upperdeck]

It can never be tied to them playing or being on a certain team

Technically all NIL deals are paying for the players “Name Image and Likeness”

I get thats the way it supposed to work.. But do we really believe that player X get 1 million from Miami and then struggles and goes to Div III and the NIL continues to pay him?

In theory a guy could get NIL from a place in the spring . transfer in the summer and transfer again in Jan and get 3 NIL deals at the same time I guess

 

[Domedog84]

I get thats the way it supposed to work.. But do we really believe that player X get 1 million from Miami and then struggles and goes to Div III and the NIL continues to pay him?

In theory a guy could get NIL from a place in the spring . transfer in the summer and transfer again in Jan and get 3 NIL deals at the same time I guess

You are correct that it is in theory pay for play, but that doesn't apply to tax laws because the contract can't legally be tied to them playing for a certain team, or "playing" at all.

 

[upperdeck]

You are correct that it is in theory pay for play, but that doesn't apply to tax laws because the contract can't legally be tied to them playing for a certain team, or "playing" at all.

So it can be tied to signing with a team. just nor for performance.

The Jock tax isn't for playing either, it is for being on the roster of an event in a different state.

coaches and players pay tax for those games.

NIL is a loophole for the tax status of the schools, just seems its being loosely applied to get around tax laws.

 

[capeorange]

Not a lot of bang for the buck in either football or basketball between NIL and salaries.

 

[Domedog84]

So it can be tied to signing with a team. just nor for performance.

The Jock tax isn't for playing either, it is for being on the roster of an event in a different state.

coaches and players pay tax for those games.

NIL is a loophole for the tax status of the schools, just seems its being loosely applied to get around tax laws.

How can it be tied to signing with a team?

 

[upperdeck]

How can it be tied to signing with a team?

its in the rules in some places. maybe its state by state?

 

[Domedog84]

its in the rules in some places. maybe its state by state?

I just thought it was against the rules everywhere. Your NIL is not directly tied to the school at all. You are signing a contract with a business or a collective.

 

[JRHEETER]

its in the rules in some places. maybe its state by state?

It’s not in the the rules

It’s actually in the rules that it can be in no way tied to signing with a team or performance for a team

Even tho people are talking about x school offered this x amount. The actual NIL deal can have nothing to do with the student athlete signing at a specific school.

 

[JRHEETER]

its in the rules in some places. maybe its state by state?

Schools will say stuff such as

“A similar player came to our school and after they signed with us they got a 200k NIL deal hint hint nudge nudge”

So while it’s IMPLIED that the student athlete would get 200k for going to said school, the actual deal that they sign would NOT and can NOT be tied to signing to a specific school