Georgia Legislature and recruiting

[Capt. Tuttle]

Has a bill to exempt college NIL from state income taxes

 

[orangemass]

They got their priorities straight. Tax the teachers and nurses double

 

[Newhouser]

This is why our future is not going to be where some of these schools reside. The cultural gap is real and getting wider every single day.

 

[oldpinepoint]

Well I wonder if it’s like the pros where you need to file a state income tax return for every state you play in. Priorities are -up here

 

[javadoc]

Has a bill to exempt college NIL from state income taxes

As a Georgia resident, I am hoping they can sneak my wages, salaries, and tips into that same exemption. North and south of us on I-75 there is no state income tax at all - make it happen!

 

[PhatOrange]

They got their priorities straight. Tax the teachers and nurses double

Its not NY

 

[Finwad32]

This has been a big discussion point. Things are being worked on to educate players in financial literacy. Most have no concept of what income taxes will look like on their NIL earnings.

 

[HtownOrange]

Several states have no income tax. Florida and Texas are two of them. Georgia probably realizes this is an advantage they will have to compete with both geographically (Florida borders Georgia making FSU and UF easily drivable for families to attend games) and in conference (UF, TAMU, UT). Just a guess on my part, but when kids are signing multi-million dollar NIL deals, this is a large tax advantage.

 

[HtownOrange]

Well I wonder if it’s like the pros where you need to file a state income tax return for every state you play in. Priorities are -up here

I think NIL can be explained as "local" since the schools cannot "pay" the kids under NIL for each game played. Thus, California cannot tax SU players for playing at Stanford and/or Cal. Never fear, though, I have no doubt California will do everything it can to tax everyone.

 

[donniesyracuse]

Lots of things lately make me proud to be in New York.

 

[texascpa]

Lots of things lately make me proud to be in New York.

Paying income tax makes you proud? It's one reason I wouldn't think of moving back to NY.

 

[HtownOrange]

Paying income tax makes you proud? It's one reason I wouldn't think of moving back to NY.

State income taxes are a major reason people move to Florida and Texas for retirement. The retirement funds go much further.

As much as I love NY and have family in NY, to move back to NY I would need a very large raise to break even. I know and have known many snowbirds who keep their "residence" in Texas or Florida while owning property in NY, enjoying the best of both regions; beautiful springs and summers in NY and mild, pleasant fall and winters in the south. I hope to get that point when I retire, yet my residence will remain n Texas to avoid state income taxes.

 

[SmilinBob]

This has been a big discussion point. Things are being worked on to educate players in financial literacy. Most have no concept of what income taxes will look like on their NIL earnings.

I agree with that but why not include all 22 and under aged people if that's the case? I understand they are probably getting a larger amount in most cases.

Plus... aren't these schools institutes for learning? If you want to pay them teach them something useful like finances and if the kid doesn't learn or search for answers it's on them not the taxpayers.