This article is a reminder to all pro athletes why they don’t want to make California their home, and why they don’t want to play for a California team. Indeed, from a tax standpoint, they’d be wise not to play in a western conference — given that many of the games will be with California teams. Cam Newton is learning this lesson the hard way — and doubtless is thanking his lucky stars he plays in an east coast NFL conference.
FORBESCalifornia Taxes Will Eat Up All Of Cam Newton’s Super Bowl Earnings By K. Sean Packard
Remember when Peyton Manning paid New Jersey nearly $47,000 in taxes two years ago on his Super Bowl earnings of $46,000? Manning has nothing on the state taxes facing Carolina Panthers quarterback Cam Newton for Super Bowl 50 in Santa Clara, Calif. Newton is looking at a tax bill more than twice as much, which will swallow up his entire Super Bowl paycheck, win or lose, thanks to California’s tops in the nation tax rate of 13.3%.
Before we get into the numbers,… Read More