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Re: NFL Star WR Tyreek Hill Reveals He Chose Miami Dolphins Over Signing With the New York Jets Because of Florida Has No State Income Tax 

By: Beldin in 6TH POPE | Recommend this post (1)
Thu, 06 Oct 22 6:37 PM | 23 view(s)
Boardmark this board | 6th Edition Pope Board 		Msg. 36145 of 60008
(This msg. is a reply to 36143 by Decomposed)
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Ah, this isn't the first time a professional athlete has made these kinds of decisions. This shows that Tyreek Hill is smart, has a good, smart agent/financial advisor, or both. If the teams in high-tax states want to attract the best talent, then they better be ready to up their offer to offset the higher taxes. It's a big reason why many, many businesses are fleeing California, New York, and Illinois for low-tax/no-tax states, which usually have less onerous regulations, as well. 




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NFL Star WR Tyreek Hill Reveals He Chose Miami Dolphins Over Signing With the New York Jets Because of Florida Has No State Income Tax
By: Decomposed in 6TH POPE
Thu, 06 Oct 22 6:17 PM 		Msg. 36143 of 60008

Heh... just think about the implications if New York/New Jersey and California teams start losing top prospects because of tax rates! But it makes perfect sense. For every million dollars a player earns, those two states pocket $107,000 and $130,000 respectively.

October 6, 2022

NFL Star WR Tyreek Hill Reveals He Chose Miami Dolphins Over Signing With the New York Jets Because of Florida Has No State Income Tax

by Heather Hamilton, Social Media Reporter
WashingtonExaminer.com

Miami Dolphins star wide receiver Tyreek Hill said his decision to play in Florida and not sign with the New York Jets wasn’t sports-related but rather one that came down to economics.

Hill was traded from the Kansas City Chiefs to the Miami Dolphins during the off-season but was pursued by the New York Jets.

“It was very close to happening,” Hill told reporters during a media briefing. “Just those state taxes, man.”


While the Jets are a New York-based team, their stadium is in East Rutherford, New Jersey, 5 miles from New York City. Because of the stadium’s location, Hill would be required to pay a 10.75% income tax, which applies to those making more than $5 million.

Florida, however, does not have an income tax. Hill said his decision to stay with the Dolphins came down to what Florida had to offer.

“You know, I had to realize I had to make a grown-up decision,” Hill added. “And now, here I am in the great city of Miami. You know, great weather, great people. Beautiful people, I feel like. So here I am.”

In addition to Florida, the five states with NFL teams that do not have state income taxes include Tennessee, Texas, Nevada, and Washington. California-based single players who are in the $1,000,000 tax bracket pay the highest state income tax at 13.3%.

http://www.washingtonexaminer.com/policy/economy/state-taxes-nfl-star-florida-new-york-jets

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