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

  1. #21
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    Re: New Jersey Taxes Could Eat Up All Of Peyton Manning's Super Bowl Earnings

    Quote Originally Posted by iliveonramen View Post
    So? You pay taxes where you reside and you also are suppose to pay taxes in states you made income.

    Based on the math there's nothing wrong with it. It's based on his yearly income and duty days. There are 200 duty days in the season (if he plays next year) for 2014. He spent 7 out the of the 200 duty days working in New Jersey. That's why it's 7/200 times his yearly salary times the income tax rate and not just his bonus for playing the game. Every state does that.
    New Jersey is paying him nothing. No one in New Jersey is paying him. The Denver Broncos pay him (and the NFL provides bonuses for playoffs).

    So a travelling salesperson should have to pay income taxes in every state they do business in? Of course they don't.

    For the record, Texas has no state income taxes, so it doesn't cost an NFL player a dime to play in a Super Bowl in Houston or Dallas.

    This is nothing more than a money-grab from a perpetually debt-ridden state. Funny how the states with the highest taxes are in the worst financial state.

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

    Quote Originally Posted by Erod View Post
    New Jersey is paying him nothing. No one in New Jersey is paying him. The Denver Broncos pay him (and the NFL provides bonuses for playoffs).

    So a travelling salesperson should have to pay income taxes in every state they do business in? Of course they don't.

    For the record, Texas has no state income taxes, so it doesn't cost an NFL player a dime to play in a Super Bowl in Houston or Dallas.

    This is nothing more than a money-grab from a perpetually debt-ridden state. Funny how the states with the highest taxes are in the worst financial state.
    i have to travel for work i don't pay taxes in all the places that i go to because i am not there long enough i am longer than 7 days, but this is a special jock tax that NJ has.
    stupid if you ask me.

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

    Quote Originally Posted by Erod View Post
    New Jersey is paying him nothing. No one in New Jersey is paying him. The Denver Broncos pay him (and the NFL provides bonuses for playoffs).

    So a travelling salesperson should have to pay income taxes in every state they do business in? Of course they don't.

    For the record, Texas has no state income taxes, so it doesn't cost an NFL player a dime to play in a Super Bowl in Houston or Dallas.

    This is nothing more than a money-grab from a perpetually debt-ridden state. Funny how the states with the highest taxes are in the worst financial state.
    And those NFL bonuses are being paid for work done in NJ. And they aren't 100%, that's just a stupid accounting trick Forbes tried to pull over on you.
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    Re: New Jersey Taxes Could Eat Up All Of Peyton Manning's Super Bowl Earnings

    Quote Originally Posted by Erod View Post
    Typical liberal. It's OK to steal more than 100 percent of his income since he already has a lot of money.
    Manning has only $46k in income?

    Nah.

    From the site in the OP:

    Manning is due $15 million next season, which would push his 2014 earnings to $15,157,000 or $15,111,000, and bump him into Jersey’s highest 8.97% tax bracket. Luckily, his duty day ratio would go from 7/33 to 7/200, without regard to the Broncos’ game at MetLife Stadium against the Jets next season.

    I thought your post sounded out of whack.
    I may be wrong.

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

    Quote Originally Posted by Dittohead not! View Post
    While this is an exaggeration of the taxes Manning has to pay, the idea that he has to pay anything to a state he doesn't live in is ludicrous and should be illegal.
    FWIW, I am a long tern Nevada resident. In 1998 I bought what was to be a vacation home in Rio Nido (near Santa Rosa). After all was said and done, I talked myself out of it and sold the house. I had to file a CA return and pay taxes on the $15K profit I made.

    Not saying if it's right or wrong but it seems that you are liable for income earned in other states. My state has no tax so I don't know how that might have affected anything. Would both states have wanted taxes? Would the tax paid to one have credited the other? IDK.

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

    Quote Originally Posted by Simon W. Moon View Post
    Manning has only $46k in income?

    Nah.

    From the site in the OP:

    Manning is due $15 million next season, which would push his 2014 earnings to $15,157,000 or $15,111,000, and bump him into Jersey’s highest 8.97% tax bracket. Luckily, his duty day ratio would go from 7/33 to 7/200, without regard to the Broncos’ game at MetLife Stadium against the Jets next season.

    I thought your post sounded out of whack.
    Manning will make about $42K if he loses the Super Bowl this week. New Jersey will tax him more than that for THIS WEEK alone.

    And he doesn't live in New Jersey. He lives in Denver right now.

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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
    FWIW, I am a long tern Nevada resident. In 1998 I bought what was to be a vacation home in Rio Nido (near Santa Rosa). After all was said and done, I talked myself out of it and sold the house. I had to file a CA return and pay taxes on the $15K profit I made.

    Not saying if it's right or wrong but it seems that you are liable for income earned in other states. My state has no tax so I don't know how that might have affected anything. Would both states have wanted taxes? Would the tax paid to one have credited the other? IDK.
    But how is Manning earning income in New Jersey? They aren't paying him.

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

    Quote Originally Posted by Deuce View Post
    And those NFL bonuses are being paid for work done in NJ. And they aren't 100%, that's just a stupid accounting trick Forbes tried to pull over on you.
    So does a salesman from Nebraska who signs a contract in New Jersey have to pay personal income taxes in New Jersey for the commissions made from that sale?

    No.

    What money is Manning making from New Jersey here?

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

    Quote Originally Posted by Erod View Post
    But how is Manning earning income in New Jersey? They aren't paying him.
    I don't know. I was just trying to contribute my (very limited) knowledge regarding multi-state taxation based on my anecdotal experience. I don't follow sports so I'm a little out of my depth here. I assumed (and we all know how that goes) that Mr. Manning was playing a game in New Jersey which would effectively mean that he was working in New Jersey at the time he got paid this income. Maybe I'm completely off track here - did he "work/play" in New Jersey? If he did, then NJ has a claim on the revenue he earned in NJ. If not, no, they should have no claim at all. Please forgive my ignorance that lead me to incorrectly make my statement.

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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
    More CON crap! The tax isn't on 100% of his income but on less than 9% of his annual salary. What the article you cited doesn't say is quite a few states use this tax, not just for the Super Bowl, and not an 'all of a sudden' tax.

    That ring means FAR more to him than the tax, perhaps that is why he is so focused and successful a player.

    But do whine on....
    9% is still outrageous for anyone to pay.

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