Don't forget the NYC income tax either.
Reader comment on: Robinson Cano Tax
Submitted by Lyle (United States), Dec 11, 2013 16:30
His state tax rate would be 8.97% and the city tax rate 3.86% So the total cost of living in NYC is 12.83% Moving the team to New Jersey could save the city tax, or Up to Westchester or out to Suffolk Co. Note that pro sports teams however do pay local tax on the games they play in each city, (which is why they need tax accountants) So he will pay the NYC and NYS taxes when he plays at Yankee Stadium. So you start with only 1/2 of his income shielded, (Since 1/2 of the games are at home). Plus of course NYC and NYS will get taxes on his hotel bills as well.
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