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Thread: New Jersey Taxes Could Eat Up All Of Peyton Manning's Super Bowl Earnings

  1. #91
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    Re: New Jersey Taxes Could Eat Up All Of Peyton Manning's Super Bowl Earnings

    Quote Originally Posted by specklebang View Post
    Good point. Makes me realize I am trying to discuss something that's over my head. My only experience was the one house sale but of course, i clearly made my profit in CA. Maybe its based on a specific action that earns the money in the other state?

    We'll need a tax person to help us learn more.
    Only if by "specific action" you mean "a large variety of work for pay"

    Basically, if you're going to work for money in a state, you have to comply with that state's laws. Some states have a law that says if you earn money in their state (some forms of employment are exempted), you have to pay income on a share of your annual income, with the share being proportionate to the amount of time you spent working in the state. So if you spend one week working in the state, then you pay state income tax on 1/52 of your annual income.

    When it comes to sales, such as your house sale, the law says that sales are considered to have taken place wherever the exchange was completed. If your sale was in CA, then you have to pay CA sales tax regardless of where you reside.
    Quote Originally Posted by matchlight View Post
    Justice Thomas' opinions consistently contain precise, detailed constitutional analyses.
    Quote Originally Posted by jaeger19 View Post
    the vast majority of folks that need healthcare are on Medicare.. both rich and poor..

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    Re: New Jersey Taxes Could Eat Up All Of Peyton Manning's Super Bowl Earnings

    Quote Originally Posted by j-mac View Post
    AFAIK, your taxes are calculated in the state you live in. For example, as a Truck driver for a medium sized company, they are located with their HQ in Nashville TN, I live in SC, but drive through TN four times a week at least, that technically mean that I earn at least a part of my income from being in the states of SC, NC, TN, KY, OH, IN. That doesn't mean that I owe each one of the states tax money, that is insane.
    That is not correct, the law is pretty clear on what qualifies for which tax and what doesn't. You are comparing the traditional W2 vs the special 'jock' tax many, but not all, states use. For W2/1099 the trucker lists a home of record, the company as well and the address written on the paycheck. W2 withholds most of the time for the state of residence- a 1099 is on his own.

  3. #93
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    Re: New Jersey Taxes Could Eat Up All Of Peyton Manning's Super Bowl Earnings

    Quote Originally Posted by sangha View Post
    Only if by "specific action" you mean "a large variety of work for pay"

    Basically, if you're going to work for money in a state, you have to comply with that state's laws. Some states have a law that says if you earn money in their state (some forms of employment are exempted), you have to pay income on a share of your annual income, with the share being proportionate to the amount of time you spent working in the state. So if you spend one week working in the state, then you pay state income tax on 1/52 of your annual income.

    When it comes to sales, such as your house sale, the law says that sales are considered to have taken place wherever the exchange was completed. If your sale was in CA, then you have to pay CA sales tax regardless of where you reside.
    Then please answer the question I responded to. What about interstate truckers?

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    Re: New Jersey Taxes Could Eat Up All Of Peyton Manning's Super Bowl Earnings

    Quote Originally Posted by specklebang View Post
    Then please answer the question I responded to. What about interstate truckers?
    Certain types of work are exempted, but I do not know exactly which are. I can't tell you anything about interstate truckers other than they're known for taking lots of speed.
    Quote Originally Posted by matchlight View Post
    Justice Thomas' opinions consistently contain precise, detailed constitutional analyses.
    Quote Originally Posted by jaeger19 View Post
    the vast majority of folks that need healthcare are on Medicare.. both rich and poor..

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    Re: New Jersey Taxes Could Eat Up All Of Peyton Manning's Super Bowl Earnings

    I think the jock tax is bull****.

    But what is an even bigger load of bull**** is the conservative faux outrage over it.

    If we were talking about some uneducated shlub's boss telling him that he had to accept a pay cut from $15 to minimum wage the conservatives would be arguing that if he didn't want to take the hit it would be up to Joe Shlub to find other work - while also going on a tirade about how minimum wage itself is socialism and folks should have to settle for what they're offered.

    I don't necessarily disagree with that line of reasoning either, so far as it goes.

    What I find intellectual dishonest to the degree that it borders on lunacy is the double standard.

    I'm sure Manning knows full well (because his six figure a year accountant/money manger told him so) what kind of tax he stands to get hit with by playing this game.

    If said accountant hasn't I'm sure one of his buddies Facebooked him a copy of this article.

    If Manning doesn't want to pay the tax he doesn't have to play the game.

    He can simply find other work, perhaps shilling really bad pizza in TV commercials or something.

    If he chooses to play, then he has to suck it up and pay the tax.

    It's really all on him.

    Sometimes you're the big fish in the little pond and other times you're the little fish in the big pond.

    Given that we're talking about a grown man who earns millions to plays a child's game for a living for the entertainment of grown children who sit on their fat asses drinking beer and living out their high school fantasies vicariously through him, I'd say that even with the tax, should he choose to accept it, Manning is making out okay.
    “Now it is not good for the Christian’s health to hustle the Aryan brown,
    For the Christian riles, and the Aryan smiles and he weareth the Christian down;
    And the end of the fight is a tombstone white with the name of the late deceased,
    And the epitaph drear: “A Fool lies here who tried to hustle the East.”

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    Re: New Jersey Taxes Could Eat Up All Of Peyton Manning's Super Bowl Earnings

    Quote Originally Posted by Blue_State View Post
    I was responding to "what the hell is a jock tax and why should I believe it exists."
    That's fine. Now do you have some proof that it does exist?

    Quote Originally Posted by humbolt View Post
    Presented to you? If you're posting in this thread, you could look for the evidence yourself since you fear someone is lying to you. Or you could drop it if it isn't of sufficient interest to you to prompt a search for the truth. Just sitting back and taking this as an opportunity to smear all conservatives doesn't reflect any specific concern other than the aforementioned smear.
    Nice flail. Your response suggests that my initial reaction was right--this story is just another conservative lie.
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    Re: New Jersey Taxes Could Eat Up All Of Peyton Manning's Super Bowl Earnings

    Quote Originally Posted by NIMBY View Post
    I don't blame you.
    OTOH, they feel the same about us and I know a lot of good ones in my daily life.
    Like the teacher who will host our annual Super Bowl party.
    Please do your part by helping to elect Michelle Nunn and other state Dems .
    You damn well better believe I will! And guess what, after the botched handling of our snowstorm earlier this week, Georgia Republicans have already taken a hit in the polls.
    "A man you can bait with a tweet is not a man we can trust with nuclear weapons." --Hillary Rodham Clinton
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    Re: New Jersey Taxes Could Eat Up All Of Peyton Manning's Super Bowl Earnings

    Quote Originally Posted by AliHajiSheik View Post
    Better weather? Some times of the year, sure. Except those times with high humidity and hurricanes. Enjoy your recent storm?
    Not bad here...I'm in the "Upstate" of SC, so we got less than an inch, and a little ice that was gone by noon.

    nicer people: most Pennsylvanians are overly polite
    Yeah, I guess...I have some friends in PA right over the line from MD, so ok...

    lower cost of living: could be.
    Oh absolutely...According to PayScale.com, I compared Greenville SC, to Lancaster PA. and as you can see every category is higher in PA except for Health Care comes in at 3% lower in PA....However, housing is 60% higher...And my salary would be lower in PA.

    PayScale - Cost of Living Cities - Greenville South Carolina and Lancaster Pennsylvania

    lake, mountain, ocean: check, check, check.
    I live in an area about an hour from the Smokies, we have three major lakes within 40 minutes, and Myrtle Beach is 3 1/2 hours away.

    My average winter high is about 45 degrees (except January).
    Our average is mid 50s, and by late Feb we are in the 60s....According to Weather.com, Lancaster comes in at high 30s for a Jan temp, and low 40s for Feb.

    Average Weather for Lancaster, PA - Temperature and Precipitation

    Golf course: got plenty of those. Just course down the road hosted the US Open last year.
    I can play year round...

    Point is, that there are nice places all over the place and there are some crap holes too.

    For this discussion, we also have plenty of athletes coming to the state who will actually be paying these taxes--two major league cities, more to collect
    Just another way to soak the wealthy. Shouldn't the tax code be equal for all?
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

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    Re: New Jersey Taxes Could Eat Up All Of Peyton Manning's Super Bowl Earnings

    Quote Originally Posted by notquiteright View Post
    That is not correct, the law is pretty clear on what qualifies for which tax and what doesn't. You are comparing the traditional W2 vs the special 'jock' tax many, but not all, states use. For W2/1099 the trucker lists a home of record, the company as well and the address written on the paycheck. W2 withholds most of the time for the state of residence- a 1099 is on his own.
    So how is a "Jock" different? Why are their compensations not set up through the team they play for say like the Bronco's would be HQ'd in Denver, and Manning lives in Denver, so he should be taxed in CO. Not every city he plays in...That is just a progressive tax theft if you ask me.
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

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    Re: New Jersey Taxes Could Eat Up All Of Peyton Manning's Super Bowl Earnings

    Quote Originally Posted by Phys251 View Post
    You damn well better believe I will! And guess what, after the botched handling of our snowstorm earlier this week, Georgia Republicans have already taken a hit in the polls.
    I didn't know Kasim Reed was a republican.
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

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