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View Poll Results: With Leiweke on baord, what happens to Colangelo now?

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Thread: With Leiweke on board, what happens to Colangelo now?

  1. #61
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    Toronto's pretty middle-of-the-road. High provincial taxes compared to most states, but lower federal taxes.

    http://www.protectingtaxpayers.org/i...iew&post_id=37

    This never occurred to me before, but Obama's tax plans are actually pretty good for the Raptors; in increasing top-earner taxes in the states, in gives Toronto a bit more of an edge and will likely edge them into one of the better tax markets for NBA players. The top earner tax bracket in the states is jumping from 35 to 39.6. By my count, that would raise the federal tax rate of every US NBA market to the point that only Dallas, Houston, Memphis, Miami, Orlando, and San Antonio will be lower, and even then only by a percentage or two.

    edit: yeah, to what Puffer said, it's probably more complicated across borders. It would take someone who actually knows anything about taxes (my 2013 forms haven't been touched and April 29th now) to say how this actually applies.
    Last edited by octothorp; Mon Apr 29th, 2013 at 03:31 PM.

  2. #62
    Raptors Republic Superstar Puffer's Avatar
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    Quote octothorp wrote: View Post
    Toronto's pretty middle-of-the-road. High provincial taxes compared to most states, but lower federal taxes.

    http://www.protectingtaxpayers.org/i...iew&post_id=37

    This never occurred to me before, but Obama's tax plans are actually pretty good for the Raptors; in increasing top-earner taxes in the states, in gives Toronto a bit more of an edge and will likely edge them into one of the better tax markets for NBA players.
    Don't know how it impacts players who play here. I guess they could say that all of their income is earned in Canada, therefore they wouldn't have to pay any US tax on their income. When I was in construction and looked into moving to another country (say construction work in Saudi or Korea) you had to divest yourself of any assets to avoid paying tax. Maybe I am remembering wrong, and maybe (I would suspect) there is special provisions for athletes.

  3. #63
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    41 games of a players salary is taxed in their 'home' team jurisdiction.

    The other 41 games are taxed at the 'visiting' team jurisdiction.

    Toronto taxes are definitely on the high end of the NBA but I think they are reasonably comparable to states with high tax rates such as New York and California. One might bring up value added tax (GST) but I don't think most players are buying their big ticket items in Torono so I don't see it making enough of difference. Teams in states like Texas and Florida are always going to have big advantage as long as they have no state income tax.
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  4. #64
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    Quote Matt52 wrote: View Post
    41 games of a players salary is taxed in their 'home' team jurisdiction.

    The other 41 games are taxed at the 'visiting' team jurisdiction.

    Toronto taxes are definitely on the high end of the NBA but I think they are reasonably comparable to states with high tax rates such as New York and California. One might bring up value added tax (GST) but I don't think most players are buying their big ticket items in Torono so I don't see it making enough of difference. Teams in states like Texas and Florida are always going to have big advantage as long as they have no state income tax.
    Any idea what that difference is when calculated for average (5 mln) or max salary?

  5. #65