How Much Did California Taxes Affect NBA Free Agency?
The NBA finals are now in the rear view mirror, as is the league’s draft. In fact, the free agency period has largely ended as well, as far as the big-time impact players are concerned. It was an unusual year for free agency, as some of the most recognizable and marketable teams were mostly shut out in the free agent frenzy, including the New York Knicks and Los Angeles Lakers.
The Warriors and Clippers were able to keep their big name players that could have flown the coup for so-called greener pastures, but one of the most successful franchises in the history of the game could not get anyone to bite. Could it be that the Lakers have completely lost their mojo? That’s a debate for the sports experts, but what is up for open debate is whether or not California’s taxes played a role in where players chose, or didn’t choose to sign.
There are several possible reasons that this year’s crop of free agents could have chosen other teams besides the Lakers. However, there is also a definite possibility that the state’s huge income tax rate had something to do with it. California has the nation’s highest state income tax at 13.3 percent. Could that have been a deciding factor for some of these athletes? We can’t know for sure, but when you look at the case of free agent forward LaMarcus Aldridge, you can’t help but wonder.
Aldridge left the Portland Trailblazers for the San Antonio Spurs. Aldridge twice met with the Lakers before ultimately selecting San Antonio. The difference in his tax bill is huge when you consider that Texas has no state income tax. At four years and $80 Aldridge would’ve paid roughly $10 million in state income taxes had he signed with the Lakers. That’s a huge difference. While Aldridge may have chosen the Spurs for many other reasons, it’s very likely that the tax equation had something to do with his decision.
Financing A More Exclusive Lifestyle
It’s surprising that the emerging market is now the biggest consumer of luxury goods, as reported by Deloitte, where a more mature audience once held the title. This will require luxury brands to reinvent their marketing approach in order to accommodate their new clientele. With an increase in income and more access to loan products, the new luxury consumer is fully equipped to have all they desire. But what is it that this elite group of consumers really want?Fast Cars Are No Longer EnoughWhile
How Do Biotech and Pharma Companies Feel About New Tax Law?
How Do Biotech and Pharma Companies Feel About New Tax Law? The back and forth regarding the new tax reform bill has been endless since even before it became law. Obviously, there are pros and cons and both sides hold tight to their arguments. Additionally, some taxpayers and industries oppose the reform, while others are…
Five Easy Steps To Help You Retire Wealthy
What hard-working individual doesn’t dream about retiring rich and living the good life throughout his or her golden years? After all, what’s the point of working your life away if you never get to enjoy the fruits of all your labors? The problem is, for many, retiring wealthy and living the good life is just that: a dream. In fact, for many, retirement is a daily battle just to have enough to get by after paying for all their necessary food and medical care. That’s not how retirement should be,
Five Mistakes You Can’t Afford to Make at Work
Have you ever made a bad mistake at work that you just couldn’t live down? No one is perfect and everybody makes mistakes. In most cases, people can overcome mistakes they make at work, but there are a few missteps that could really end up costing you. So, even though you’re not perfect make sure you do everything in your power to avoid these five critical mistakes at work.Promising too much – we all want to accomplish as much as we can and impress our bosses and coworkers. However, it’s a bad