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View Diary: Right-Wing Lie of the Week: New Jersey's "101.8% Tax" on Peyton Manning's Super Bowl Pay (125 comments)

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  •  Well (8+ / 0-)

    For reasons of administrative convenience, many states ignore short stays if their tax laws don't otherwise provide an exemption (which may be a certain dollar threshold or number of days in the state).

    However, a lot of states carve out specific exemptions for pro athletes and performers because of the dollars involved.

    An interesting question is to what extent New Jersey can tax Manning's endorsement income.

    Also, I believe that Manning made some appearances in New York City--which should give rise to an income tax liabilty in New York as well.

    "Well, I'm sure I'd feel much worse if I weren't under such heavy sedation..."--David St. Hubbins

    by Old Left Good Left on Mon Feb 03, 2014 at 12:14:36 PM PST

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    •  I wasn't even touching this (4+ / 0-)
      Also, I believe that Manning made some appearances in New York City--which should give rise to an income tax liabilty in New York as well.

      “Republicans...think American standard of living is a fine thing--so long as it doesn't spread to all the people... And they admire of Government of the United States so much that they would like to buy it.” Harry S. Truman

      by fenway49 on Mon Feb 03, 2014 at 12:24:43 PM PST

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    •  OLGL - I beleive all the endorsement income (3+ / 0-)
      Recommended by:
      thanatokephaloides, Lujane, MHB

      goes to your state of residence for tax purposes. That also seems to make sense.

      "let's talk about that"

      by VClib on Mon Feb 03, 2014 at 01:09:07 PM PST

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      •  Not always (1+ / 0-)
        Recommended by:
        Lujane

        If he met with his corporate sponsors during Super Bowl week in New Jersey (or New York), there could be a basis for sourcing some of his endorsement income to those states.

        "Well, I'm sure I'd feel much worse if I weren't under such heavy sedation..."--David St. Hubbins

        by Old Left Good Left on Mon Feb 03, 2014 at 06:32:21 PM PST

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        •  I don't think so (2+ / 0-)
          Recommended by:
          Justanothernyer, MHB

          When it comes to income from endorsements I don't think the location of your meetings with sponsors, or your agent, impact the tax status of the income. One clue was Phil Mickelson, the golfer, who was complaining about California's high individual rate (13.3% tops in the US). Phil's income is primarily from endorsements and he pays about $6 million per year more in state income taxes than he would if lived in Florida, Texas, or Nevada, where most of the top golf pros live.

          "let's talk about that"

          by VClib on Mon Feb 03, 2014 at 07:07:50 PM PST

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          •  I was considering the situation (0+ / 0-)

            in which he does a meet and greet with Buick dealers, for example, during Super Bowl week.  Depending on how he has his endorsement deals structured (usually, he would contract himself to an entity that enters into the endorsement), that would constitute services and give NJ a hook to tax some of the endorsement money.

            "Well, I'm sure I'd feel much worse if I weren't under such heavy sedation..."--David St. Hubbins

            by Old Left Good Left on Tue Feb 04, 2014 at 06:12:59 PM PST

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