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View Full Version : Financial Question about the "Big 3" signing



borat
07-12-2010, 07:25 PM
I have heard them say that they are taking less money etc etc. It has been said numerous times.

My question is that if Miami has no state income tax, then Lebron and company will not have to pay any taxes on endorsements and their NBA salaries.

So actually in the long term, all these guys will be actually making more money going to Miami correct?

Just wondering if anyone with a good financial brain could break this down with numbers.

ChiSox219
07-12-2010, 07:32 PM
IL state income tax is 3% of Federally taxable income. So, that's about 500k on a $16.8m contract.

I've heard that players have to pay taxes for every city they play in, not sure if that's true.