Posted on 03/23/2012 1:58:24 PM PDT by SmithL
We'll never know whether it played a role in quarterback Peyton Manning's decision to play for the Denver Broncos rather than the San Francisco 49ers, but the California Taxpayers Association says that it could save the football star millions in state income taxes.
(Excerpt) Read more at blogs.sacbee.com ...
fyi
Denver’s a nicer place too.
Great city with great weather.
“Tell Michael it was only business...”
The California IRS should prosecute Manning for tax evasion.
He must be a Republican.
Democrat's can only make MORE money by going to California.
Take the hint, ‘Frisco.
Take the hint, ‘Frisco.
And not as many unusual people.
They’ll never have to use snow plows to clear the field in Santa Clara. He could have played in the new stadium in a couple years.. now it’s 5 years at high altitude? I don’t know.
So why did he turn down the Dolphins?
So why did he turn down the Dolphins?
I present the idea that he would have saved a lot more had he gone to Miami
John Elway, John Lynch, and Tiger Woods are all native Californians who made a lot of money in sports. They all moved out of California. The California Francise Tax Board collects a high percentage of nothing from them.
In Tiger’s case, moving out saves him a lot in taxes, BUT if he plays a tournament in California he gets taxed on any earnings. Same goes for Manning when he plays the Oakland Raiders for example - he would pay tax on his earnings in California. Sounds like a racket, but that is what these states do. Sports figures can have very complicated tax returns.
Tebow, on the other hand, just saw his tax bill increase dramatically.
Whether he lives in NY or Jersey, he will have a huge tax bill.
Because the Dolphins are a train wreck. Nobody said taxes was the only reason he picked his destination, just that his pick saved him a lot of tax $.
Maybe California and San Francisco can sue Manning to try to recover the lost taxes he will not pay to California because he does not live in California and will only pay taxes for the games he will play there, but not he games he will play elsewhere.
I am hoping that sentence is as convoluted as the Dan Walter’s whole story is.
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