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

  1. #51
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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
    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?
    pretty much all of it. First off he is working in NJ more than just a day. Hes been there working over a week. This may come as a shock to a lot of people but NFL players do work more than just Sunday afternoons. Crazy I know but there is more to being an NFL player than just suiting up at game time. So while Manning could pay more in taxes for the year than he makes in bonuses off of this one game however his NFL salary pays him for the entire year. So part of that salary he makes he is earning in NJ. His salary is being taxed in addition to the bonuses. Furthermore he will pay more in taxes if he plays next season because he will play in NJ again next year. So that salary is a consideration. Manning will likely spend a few weeks there this year earning his salary with the Denver Broncos and prorated from the number of weeks he spends there and his annual salary plus bonus earnings he will make much more than his bonuses. So if you are going to take his total taxes paid to that state then you should be considering his full salary that he earns during those weeks and not just his bonus because despite the trickery and misleading bs in the article wages get taxed too, not just bonuses.
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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
    pretty much all of it. First off he is working in NJ more than just a day. Hes been there working over a week. This may come as a shock to a lot of people but NFL players do work more than just Sunday afternoons. Crazy I know but there is more to being an NFL player than just suiting up at game time. So while Manning could pay more in taxes for the year than he makes in bonuses off of this one game however his NFL salary pays him for the entire year. So part of that salary he makes he is earning in NJ. His salary is being taxed in addition to the bonuses. Furthermore he will pay more in taxes if he plays next season because he will play in NJ again next year. So that salary is a consideration. Manning will likely spend a few weeks there this year earning his salary with the Denver Broncos and prorated from the number of weeks he spends there and his annual salary plus bonus earnings he will make much more than his bonuses. So if you are going to take his total taxes paid to that state then you should be considering his full salary that he earns during those weeks and not just his bonus because despite the trickery and misleading bs in the article wages get taxed too, not just bonuses.
    FALSE!

    If he was in Denver this would he not get paid his salary? He would.

    The payment is for the game in NJ. No other player but the players who are in the Super Bowl are getting that payment. The payment is for the work done this Sunday.

    So if you are going to take his total taxes paid to that state then you should be considering his full salary that he earns during those weeks and not just his bonus because despite the trickery and misleading bs in the article wages get taxed too, not just bonuses.
    Why should he pay taxes to NJ? He doesn't live there, he doesn't work there full time. He earns his salary on the other side of the country.
    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

    I am not feeling bad for Manning, but the tax is ridiculous.
    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

    maybe this will help most of you who are choosing to ignore facts.

    Raiola, senior manager of the sports and entertainment group within the accounting firm of O’Connor Davies LLP in its Cranford office, said athletes across the country often file more than a dozen tax returns every year, paying taxes in every state in which they compete — and sometimes local taxes as well, if they play games in cities like Cleveland, Detroit and Philadelphia. So do many of the high-profile sportscasters who join them on the road.

    The tax is essentially a super-sized commuter tax, based not just on the gameday itself, but how many days an athlete is in the state, imposed on a prorated portion of the player’s salary for the year.

    And it’s not just for the Super Bowl. When the Redskins came to town to play the Giants in the last game of the season, everyone on the team incurred a tax liability — even those who did not play. If someone is on the roster, a portion of their income will be taxed in New Jersey.
    It is a common practice is most states for individuals to pay taxes to states for money they earn in that state. There is more being taxed than the bonus, however if you take the total taxes and divide them by only part of the income being taxed of course the numbers are going to look bad. Look at the complete picture. This is something all players pay as part of their accepting a salary in a league that earns money from coast to coast. This is nothing new. Not just for manning, not just for the superbowl. It is part of the NFL every week. EVERY WEEK. These numbers are twisted because they are leaving out the majority of the taxable income manning is earning, only accounting for a portion and taking the highest paid player and twisting the taxes on his salary to appear as if they are taxing his bonus for high amounts.
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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
    FALSE!

    If he was in Denver this would he not get paid his salary? He would.

    The payment is for the game in NJ. No other player but the players who are in the Super Bowl are getting that payment. The payment is for the work done this Sunday.



    Why should he pay taxes to NJ? He doesn't live there, he doesn't work there full time. He earns his salary on the other side of the country.
    The bonuses are being paid for those who compete in the superbowl, however, mannings 15+ million dollar salary, which is what is being taxed. He earns his salary in multiple states across the country. Colorado cannot tax him for the same money NJ does. Or missouri. Or california. Every NFL player pays state taxes for a portion of their salary in almost every state they play in.
    “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 Blue_State View Post
    I am not feeling bad for Manning, but the tax is ridiculous.
    I feel bad for him. He will risk his knees, risk brain injury, risk paralyses and risk not getting a paycheck? WTF?

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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
    The bonuses are being paid for those who compete in the superbowl, however, mannings 15+ million dollar salary, which is what is being taxed. He earns his salary in multiple states across the country. Colorado cannot tax him for the same money NJ does. Or missouri. Or california. Every NFL player pays state taxes for a portion of their salary in almost every state they play in.
    You are as thick as mud. You just answered it but you won't see it. He is going to earn 96,000 or 46,000 for his work on Sunday. There is potential, for over 100% for the money he made 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

    Those 10 days in New Jersey, divided by an estimated 235 total duty days, means that Manning’s accountant will have to allocate 4.26 percent of the quarterback’s salary to New Jersey — about $646,000 if he wins the Super Bowl, and $644,000 if he loses, according to Raiola. His New Jersey tax bill (with the top indiviidial tax rate here at 8.97 percent) will come to about $57,000 for his 10 days in the Garden State, whether he wins or loses.
    Look at the whole picture.
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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
    You are as thick as mud. You just answered it but you won't see it. He is going to earn 96,000 or 46,000 for his work on Sunday. There is potential, for over 100% for the money he made in NJ.
    No he is going to make about 650000 for this this game. That is what is being taxed.
    “Most people do not listen with the intent to understand; they listen with the intent to reply.”
    Stephen R. Covey


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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
    No he is going to make about 650000 for this this game. That is what is being taxed.
    Kreton, I am tapping out. Tax everyone. Have a good day.
    We went from sticks and stones may break my bones but words will never hurt me to safe spaces.

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