Income Taxes For Pro Athletes Are Reminder Of How Complicated U.S. Tax Code Is
Athletes file taxes not only in their home state but also in every state—and some cities—in which they play. An NBA player visits 21 states during a season.
www.forbes.com
Going to be a booming business for accountant services. No Tennessee state tax to be a HUGE advantage.
And before you say NIL is going to be College School home state derived for the most part.
Consider this (NCAA loses in court again) and the Tennessee advantage becomes even greater:
Pay for TV play to Athletes moves forward
NCAA takes legal hit again: Judge refuses to end case that could bring TV money to athletes
U.S. District Judge Claudia Wilken denied NCAA's request for a dismissal of the lawsuit that also calls for compensation from broadcast rights fees.
www.usatoday.com
“… is being directed by the same law firm that brought the Alston case. In addition to asking that the NCAA be prevented from having association-wide rules that “restrict the amount of name, image, and likeness compensation available” to athletes, the suit also seeks unspecified damages based on the share of television-rights money and the social media earnings the plaintiffs claim athletes would have received if the NCAA’s current limits on NIL compensation had not existed.”
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