NFL: Brock Purdy is Getting Paid

[KnappShack]

Is that a ******* quill?

 

[Sousaclone]

From what I've read pro athletes pay income tax on game checks in the state the game is played. So when the 49ers play at the Texans in October Brock will owe state tax in Texas.

Conveniently, there is no state income tax in texas. That was apparently one of the reason Joe Rogan moved to TX from CA before he got his massive spotify deal.

If you do work in a state, you generally pay taxes in that state. My home address is in WA, but I'm assigned to a project in MI and am paying MI taxes. Had a friend from HS who was a musician and did a couple of tours with Manheim Steamroller amongst other groups. He posted a picture of his paperwork going in to see his tax guy and it was a 2" three ring binder filled to the brim because he had some many different gigs with different groups in different states.

 

[Buster28]

 

[Buster28]

 

[Buster28]

That's our boy!

 

[nfrine]

I thought it would be fun to attempt to calculate what a bi-monthly paycheck would look like.
Assumptions:
Gross Annual: $53,000,000.
Fed Tax (37%): $19,610,000. Married, filed jointly.
CA State Tax( 13.3%): $7,049,000
SSN (6.2% max limit ??): $176,100 (max limit)
Medicare (1.45%): $768,500
NFL 401K contribution (26K max). Match 2-for-1
_________
Total annual tax & whithold = $27,629,600
24 paychecks = $1,057,100 bi-monthly paycheck

Don't forget the agents cut...