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

  1. #61
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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.
    I hope he pays his accountant well.

    And doesn't try to do his own taxes!
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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).
    It doesn't matter who pays you. If you work for a company based in Chicago and work in Texas you pay taxes in Texas.

    So a travelling salesperson should have to pay income taxes in every state they do business in? Of course they don't
    By law they should...but it's a headache and chasing down the income made by a travelling salesman isn't worth it. When it's a high profile person like say...Clinton giving a speech or an athlete it becomes more of an issue.

    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.
    Very true...but most states do have income tax.

    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.
    Or it's just tax law because we tax either income or consumption. Consumption in the place you purchase the good (i.e. you buy something online from a state with higher/lower sales tax you pay the sales tax in the state you purchase it from) or where you earn the income.
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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
    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?
    They are taxing him on the 7 work days out of his 200 work days spent in NJ. That works out to about $525,000 of his $15 million income, then they tax it at 8.97%, that's why the number is so big.

    But I thought his pay is for the regular season, not the playoffs. So they should really just tax the winner or loser share, not the regular season pay. I'm sure their is some language in the law that lets them tax everything.

    Teams should just pay the players the bulk of the pay for home games, and the minimum for road games, assuming they are not in a high tax state. The Giants and Jets don't need to consider this option.
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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.
    If the Broncos lost to the Patriots and did not make it to the Super Bowl, Manning would still be paid his $15 million. So, if he loses the Super Bowl, he will actually make less money than not making it here at all. That's how the costing over 100% theory works.
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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'm not yet seeing anything in there that proves that Manning will have to pay a 100+% tax on his Super Bowl earnings. Not saying that he necessarily won't, but the burden is on you guys to prove that he will.
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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
    It doesn't matter who pays you. If you work for a company based in Chicago and work in Texas you pay taxes in Texas.
    But he doesn't live in New Jersey. A travelling salesperson doesn't pay taxes there. Why should he?

    A Bears player who plays in New Jersey, therefore, gets taxed three times on the same dollar: once by the federal government, once by Illinois, and once by New Jersey. That's ridiculous. (And Obama wants to raise his taxes even further.)

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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....
    Epic fail thread delivers the lulz.
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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
    A Bears player who plays in New Jersey, therefore, gets taxed three times on the same dollar: once by the federal government, once by Illinois, and once by New Jersey. That's ridiculous. (And Obama wants to raise his taxes even further.)
    How did Obama find his way into Manning paying taxes to New Jersey?
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    Re: New Jersey Taxes Could Eat Up All Of Peyton Manning's Super Bowl Earnings

    Manning will be the MVP of the game.
    It is aligned in the stars of the NFL over New Jersey and the New York market.
    The game is about money.
    We may hear the commentators mention the State's Rights phenomenom over vtaxes .
    Quote Originally Posted by Phys251 View Post
    I'm not yet seeing anything in there that proves that Manning will have to pay a 100+% tax on his Super Bowl earnings. Not saying that he necessarily won't, but the burden is on you guys to prove that he will.
    Physics is Phun

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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
    Manning will be the MVP of the game.
    It is aligned in the stars of the NFL over New Jersey and the New York market.
    The game is about money.
    We may hear the commentators mention the State's Rights phenomenom over vtaxes .
    You are not listening to my specific concern.

    Conservatives have been, and continue to be, so wrong about so many things, that it's almost gotten to the point where I assume they're lying until they can prove that they are telling me the truth. So I am deeply, deeply skeptical about the claim presented to me in the OP. And I will not accept it unless sure-fire evidence is presented to me.
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