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

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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
    So where's your outrage for Hillary/Obama over Benghazi?

    Oh, never mind.
    Oh yea, Benghazi, the fake story that CBS ended up retracting when the guy who spilled the beans on it turned out not to have even been there, and made it all up? Oh yea, I am outraged allright.... At fake news stories. I heard FOX News had an orgasm over that one, though.
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    Re: New Jersey Taxes Could Eat Up All Of Peyton Manning's Super Bowl Earnings

    Wait, they keep saying on the TV that the Super Bowl is in New York City this year. How does New Jersey come into play in this?

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

    I bet De Blasio is preparing tax collecting base jumpers to surprise both teams late in the 4th quarter. They'll land at the line of scrimmage and nab all those hard working patriot's wallets while they're bent over and take everything they can.

    Won't somebody please protect these makers?!?!

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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
    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.
    Yes, if you compare a years worth of taxes to a weeks worth of work, things sure look out of whack.
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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.
    I don't know either.

    How anyone could owe all of what they've earned in a state they don't live in is a question. Why they have to pay taxes in a state they don't live in at all is another. It just seems to me to be a ripoff.


    but, then, we do pay hotel/motel taxes to cities we don't live in. How is that justified?
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    Re: New Jersey Taxes Could Eat Up All Of Peyton Manning's Super Bowl Earnings

    Quote Originally Posted by MichaelJR View Post
    9% is still outrageous for anyone to pay.
    Perhaps, however I didn't say it was 'good', just not 100%... and it is a fraction of the 15 million annual salary that gets the 9% applied, just the part earned in the State of New Jersey.

    The article had to cherry pick Manning as the example to be so have that headline. Players making less than 15 million a year will not pay that amount and thus the headline loses a bit of 'WOW' factor. Guess the Players should be happy the value of the Super Bowl ring isn't figured in- though to the winners it means FAR more than the 9%...

    Not to hone the point too finely but the amount of tax Payton will pay is the rounding error of his endorsements- a princely sum to the trailer park crowd but not even half the cost of one personal assistant.

    Another thing the 'article' fails to mention is many states do this to many professional athletes, and has been part of the game since Michael Jordan was active. Sorta late for those not having to pay the tax to suddenly be up in arms.

    Now the best judge of if this tax is 'outrageous' is more the players than the fans in the stands. I'd imagine if the players thought it was 'outrageous' they would either as a union or individually have their own little Mickelson moment and have a rant about all the taxes they pay.

    But the end result might be a push for most of the players depending on their resident state's income tax laws. I know my state allows you to count state income tax paid to other states against your tax bill here. For example if I owe my state 5K in personal income tax but have to pay another state 3K, I only owe 2K to Oklahoma.

    It however doesn't give a refund if you paid more in some other state than what Oklahoma wants...

    Still I wouldn't cry for the professional athletes who for the most part can barely function in the real world and laugh all the way to the bank by playing a game...

    For them life is good and for the most part they know it...

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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
    He's earning income in that state, though.
    Not really. He is paid in his home state. NJ gets taxes from all the people attending the game. its idiotic to tax him in NJ



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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.
    Mislead by a misleading article, eh? In no case is he paying more than the 8.7% New Jersey tax. They are playing on your ignorance of taxes and your hatred for them. This is all about income allocation: how do you allocated your income for state tax purposes based upon where it was earned. Peyton Manning is NOT being taxed at 100% of earnings. He might have to allocate more of his earnings to NJ than he would like, but that is all that is at play here.
    Last edited by upsideguy; 01-30-14 at 01:52 AM.

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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
    So where's your outrage for Hillary/Obama over Benghazi?

    Oh, never mind.
    And this has what to do with the OP or Your Star's concerns? Wow you guys are obsessed with this dead horse.
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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 Taxes Could Eat Up All Of Peyton Manning's Super Bowl Earnings - Forbes



    Peyton Manning had better win Sunday, or he'll have to write a check to New Jersey. And the dude doesn't even live there. LOL
    Show me proof that New Jersey has a tax bracket greater than 100%. Extraordinary claims require extraordinary evidence.
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