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[QUOTE="Niastri, post: 5077543, member: 722"]
Apparently, Lampkin was at least partially swayed by the "no income tax in Texas" argument.  In NY he'll pay 6.85% state income tax at his income level... But the fact is (and this thread proves it) most people don't understand taxes AT ALL.  So for a kid who doesn't know anything about taxes, the idea of paying NO TAXES to the state must seem compelling. Little does he know how little that matters to his overall financial picture.

When I was a brand new financial planner, the new hire instructor made us memorize the Federal income tax brackets... He said "if you can even tell them the tax brackets, you're going to seem like a freaking wizard to most people!"

I laughed out loud, and then I used it in my next meeting.  My potential clients had wide eyes like they were astonished I could be so knowledgeable! Lol

Red should bring a qualified financial planner to his NIL meetings with potential recruits.  I could absolutely wow him with his much money he was going to have, state income tax bedamned.

So anyway, that's how we got on the topic of state tax.

:)Frankly, I'm on the side of thinking you can't legally make his income earned from NIL in Syracuse to be from Texas.

Closing a kid by doing tricky accounting and then getting him audited seems like a bad plan.
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