LeBronomics

http://www.futureofcapitalism.com/2010/07/lebronomics

Before basketball player LeBron James even announced he was headed for Miami, TaxProf Paul Caron was sending that message, based in part on a post from the Tax Foundation presciently headlined, "State Jock Taxes: Is LeBron Better Off in Miami?" From TaxProf:

Here are the projected state and local taxes on a five-year, $96 million contract:

• $12.34m: New York Knicks
• $10.32m: New Jersey Nets
• $5.69m: Cleveland Cavaliers
• $2.85m: Chicago Bulls
• $0: Miami Heat

As the Tax Foundation post noted, "Miami has a clear tax advantage." (As the Tax Foundation post, and FutureOfCapitalism reader-watchdog-participant-community member B. via email also notes, he will still have to pay state and local taxes on a lot of road games, so the "$0" isn't a total, just a home game total.)

The American Enterprise Institute's blog/Nick Schulz and Mark Perry/Carpe Diem have more to say on this.

by Ira Stoll  |  Jul 9, 2010 at 8:54 am Related Topics:  Non-Profits, Taxes receive the latest by email: subscribe to the free futureofcapitalism.com mailing list