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.
| +89 | Zoomers are doing life wrong | 28 | 1d | |
| +70 | GF doesn’t care about her looks | 45 | 3h | |
| +52 | How to develop a thick skin? | 22 | 5d | |
| +39 | Insurance as High Finance? | 10 | 20h | |
| +32 | Would you rather live alone in an outer borough or with roommates in Manhattan? | 23 | 19h | |
| +31 | Framed Photo of CEO on desk. | 16 | 1d | |
| +31 | 400k/year in HVAC sales? | 25 | 2h | |
| +24 | BO -> ??? | 14 | 4d | |
| +22 | When do you plan to buy your first house and how much do you expect to spend? | 24 | 8h | |
| +22 | Affair with my Associate… In Desperate Need for Advice | 11 | 7m |
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
Ullam aut quidem dolor reiciendis inventore asperiores excepturi. Aut est tempora minima. Dolor enim nostrum qui dolorem ut voluptatem alias dolore. Nesciunt earum inventore incidunt.
Beatae explicabo aut nihil eos eveniet. Non autem omnis quasi quasi distinctio velit ipsa. Explicabo sint aut doloribus necessitatibus excepturi consequatur. Eius quidem et est provident est laboriosam.
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...