Mind your business.

Friday, June 22, 2012

NBA Championship goes to no-income-tax Florida, Hail the tax-free champions!

Yesterday LeBron James won the NBA championship for the Miami Heat. Back when James jumped from the Cleveland Cavaliers to the Miami Heat a couple of years ago, one reason cited was that Florida has no state income tax. So he largely avoided the state income taxes of Ohio (5.925 percent top rate), New York (8.82 percent) and California (10.3 percent, plus whatever might be added by voters in November). Under IRS rules, you pay state income taxes in the state in which the game was played. So James still pays California income taxes when he plays here, New York income taxes in New York, etc. But home games in Florida are exempt. So are endorsement deals, which will become even more bountiful now that he has won the championship some critics said he was too “selfish” to win because he didn’t want to get gouged on taxes.
Read the rest here
Cal Watchdog 

Judy Morris,
Blogger, THL
Articles | Website

No comments:

Post a Comment

Ledger Nano S - The secure hardware wallet