Former basketball player Vincent Laforet opened up to Business Insider about the unknown costs of being a professional basketball player. He claims that NBA players must pay taxes in every state that they play in. He calls this a jock tax and it applies to most athletes. The article says that an $11 million contact usually becomes a $5 million contract after taxes. Hopefully Lonzo Ball reads this article before he goes out buy cars and houses.
| +64 | BofA VP killed in random NYC stabbing | 37 | 6d |
| +28 | Lindsay Clansey | 13 | 4h |
| +22 | Western Investment Bankers Deserve No-Minimum-Wage Nannies, and I Want Mine NOW | 9 | 19h |
| +17 | evercore isnt opening today | 13 | 12h |
| +15 | Deleted | 6 | 1d |
| +14 | Hair Transplant | 10 | 5h |
| +13 | At what salary can you start calling it “fi-NANCE” | 4 | 2d |
| +13 | NYC apartment hunting rant: everyone and their mother and brother are touring | 4 | 18h |
| 0 | Abstention | 1 | 3d |
| 0 | Claude Efficiencies | 1 | 15h |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
Well this is why a lot of players want to go play in the states with no state income taxes, so it's good as a Heat fan. I have to think 11 to 5 is a bit exaggerated, though.
Taxation is THEFT
Alias labore laborum atque nam. Non provident ratione cumque optio quo veritatis. Aspernatur possimus itaque incidunt nisi rerum. Sint dolorum quis id impedit corrupti tempora facere.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...