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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 upsideguy View Post
    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.
    Why is this so hard for you to understand?

    Bottom line: If Denver loses and Manning plays football next year, he'll owe New Jersey $46,844 on the &$46,000 he will earn in the Super Bowl. If he wins and plays next year, he'll still pay over 50 percent.

    New Jersey taxes a player for the calendar year, not just for the week he's there. So if he doesn't retire, he's going to get jacked in taxes.

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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
    Show me proof that New Jersey has a tax bracket greater than 100%. Extraordinary claims require extraordinary evidence.
    Did you read it?

    New Jersey will impose a jock tax for the calendar year on Manning, so if he loses and plays next year, he'll be taxed more money than he'd earn as the losing quarterback in the Super Bowl.

    This is because the NJ tax will also apply to his earning later this year if he continues playing.

    And again, if the game was in Texas, his tax obligation to that state would be $0.

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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
    Did you read it?

    New Jersey will impose a jock tax for the calendar year on Manning, so if he loses and plays next year, he'll be taxed more money than he'd earn as the losing quarterback in the Super Bowl.

    This is because the NJ tax will also apply to his earning later this year if he continues playing.

    And again, if the game was in Texas, his tax obligation to that state would be $0.
    What the hell is this "jock tax," and why should I even believe it exists? I've heard so many Right Wing lies that I can never be sure when they're actually telling the truth for once.
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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
    What the hell is this "jock tax," and why should I even believe it exists? I've heard so many Right Wing lies that I can never be sure when they're actually telling the truth for once.
    Jock Tax
    We went from sticks and stones may break my bones but words will never hurt me to safe spaces.

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

    If you read the article and understand what is written and how it is being worded to make an outrage over something that isn't there.
    “Most people do not listen with the intent to understand; they listen with the intent to reply.”
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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
    Why is this so hard for you to understand?

    Bottom line: If Denver loses and Manning plays football next year, he'll owe New Jersey $46,844 on the &$46,000 he will earn in the Super Bowl. If he wins and plays next year, he'll still pay over 50 percent.

    New Jersey taxes a player for the calendar year, not just for the week he's there. So if he doesn't retire, he's going to get jacked in taxes.
    If he plays next year he will play in NJ beyond this week so while you are factoring in the taxes from later events you are purposefully choosing to ignore the income he'll be making during those later events.

    I guess I should be outraged that the state taxed me more last year than i made this week too.
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    Re: New Jersey Taxes Could Eat Up All Of Peyton Manning's Super Bowl Earnings

    Quote Originally Posted by Kreton View Post
    If you read the article and understand what is written and how it is being worded to make an outrage over something that isn't there.
    I think the point here is if the game where held in a state that didn't have a Jock Tax or as high of a Jock Tax, he would not be paying this money to NJ or the state it would be held in. There is a possibility that he will be taxed for over 100% of his earnings for the 1 day of work he is doing in NJ.
    We went from sticks and stones may break my bones but words will never hurt me to safe spaces.

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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 think the point here is if the game where held in a state that didn't have a Jock Tax or as high of a Jock Tax, he would not be paying this money to NJ or the state it would be held in. There is a possibility that he will be taxed for over 100% of his earnings for the 1 day of work he is doing in NJ.
    that is entirely untrue.
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    Re: New Jersey Taxes Could Eat Up All Of Peyton Manning's Super Bowl Earnings

    Quote Originally Posted by Kreton View Post
    that is entirely untrue.
    Which part is untrue? He is getting paid for working in NJ either 46,000 or 96,000 depending on the result of the game. 1 day of work. This is the ONLY TIME he will work in NJ this year unless he plays for the Broncos next year. If he plays for the Broncos next year, he will make enough money that the state of NJ will tax him more than the money he made during his 1 day of work in NJ.

    Which part of that is untrue?
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    Re: New Jersey Taxes Could Eat Up All Of Peyton Manning's Super Bowl Earnings

    Quote Originally Posted by Kreton View Post
    If he plays next year he will play in NJ beyond this week so while you are factoring in the taxes from later events you are purposefully choosing to ignore the income he'll be making during those later events.

    I guess I should be outraged that the state taxed me more last year than i made this week too.

    The point is, if the game was in Texas, he would pay nothing.

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