Gulf of Brazil
Well-Known Member
One other obstacle that Suh might consider, is the fact Florida doesn't have any taxes assessed on state income, as well as the following states; Alaska, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming. Tennessee does have a state tax when considering capital gains solely.
Now, stating this, my main point is that all players have to pay a state income tax on their game checks according to where those games are played (meaning states that do have a state income tax assessed), whether they are a resident of said state or not. Think about the $$$ issues at hand here. Suh is taxed, game check only mind you, for his 8 home games in Detroit, plus the 3 division away games, and any other state where those taxes are assessed.
If Suh were to go to the Jags, be a legal resident (homestead) there, all that signing bonus, roster bonus, workout bonus $$$ won't be taxed one damn bit (no state income taxes there), not to mention any tax on game checks playing in Jax nor will he have to pay any state income tax when the team travels to play at division opponents Houston or Tennessee (as neither of those have state income tax). THAT'S A LOT OF DAMN SAVINGS OVER A 4-7 YEAR SPAN.
If Suh were to go to NY (Jets or Giants) this is what he'd paying in state income tax alone (bonuses, game checks etc.)
This is just state income tax, not the 39.6% assessed for Fed Taxes on anything above 400k per yr
being a consummate businessman that he is, what would you do if you were in this quandary and had actual legitimate offers, nearly identical guaranteed money, from Det, NYJ, Oak and Jags...
Michigan's state income tax rate is 4.25%
Bottom line is the fact, should the Jags offer Suh a similar contract as any other team out there, strictly and solely from a financial perspective, Suh would be an absolute fool not to take the Jags deal, IMO. The 8 home games and two away division games gives him a total of 10 game checks free and clear of any state income tax not to mention all that bonus $$ not getting state income taxed.... it's a lot
Now, stating this, my main point is that all players have to pay a state income tax on their game checks according to where those games are played (meaning states that do have a state income tax assessed), whether they are a resident of said state or not. Think about the $$$ issues at hand here. Suh is taxed, game check only mind you, for his 8 home games in Detroit, plus the 3 division away games, and any other state where those taxes are assessed.
If Suh were to go to the Jags, be a legal resident (homestead) there, all that signing bonus, roster bonus, workout bonus $$$ won't be taxed one damn bit (no state income taxes there), not to mention any tax on game checks playing in Jax nor will he have to pay any state income tax when the team travels to play at division opponents Houston or Tennessee (as neither of those have state income tax). THAT'S A LOT OF DAMN SAVINGS OVER A 4-7 YEAR SPAN.
If Suh were to go to NY (Jets or Giants) this is what he'd paying in state income tax alone (bonuses, game checks etc.)
- 4 percent on the first $8,200 of taxable income.
- 4.5 percent on taxable income between $8,201 and $11,300.
- 5.25 percent on taxable income between $11,301 and $13,350.
- 5.9 percent on taxable income between $13,351 and $20,550.
- 6.45 percent on taxable income between $20,551 and $77,150.
- 6.65 percent on taxable income between $77,151 and $205,850.
- 6.85 percent on taxable income between $205,851 and $1,029,250.
- 8.82 percent on taxable income of more than $1,029,251.
- 1 percent on the first $7,582 of taxable income.
- 2 percent on taxable income between $7,583 and $17,976.
- 4 percent on taxable income between $17,977 and $28,371.
- 6 percent on taxable income between $28,372 and $39,384.
- 8 percent on taxable income between $39,385 and $49,774.
- 9.30 percent on taxable income between $49,775 and 254,250.
- 10.30 percent on taxable income between $254,251 and 305,100.
- 11.30 percent on taxable income between $305,101 and $508,500.
- 12.30 percent on taxable income of $508,501 and above.
This is just state income tax, not the 39.6% assessed for Fed Taxes on anything above 400k per yr
being a consummate businessman that he is, what would you do if you were in this quandary and had actual legitimate offers, nearly identical guaranteed money, from Det, NYJ, Oak and Jags...
Michigan's state income tax rate is 4.25%
Bottom line is the fact, should the Jags offer Suh a similar contract as any other team out there, strictly and solely from a financial perspective, Suh would be an absolute fool not to take the Jags deal, IMO. The 8 home games and two away division games gives him a total of 10 game checks free and clear of any state income tax not to mention all that bonus $$ not getting state income taxed.... it's a lot