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2023 NBA Free Agency Thread

In free agency signings today Matty Ice signed with a German team, former summer league player JP Tokoto signed with a team in Israel and Jabari Parker signed with Barcelona.
 
LogGrad98 said:
Probably closer to $40 mill after tax. Although it can get complicated as you better believe they have an army working on reducing the tax they pay.
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Ya 40 is closer to what I was thinking
 
fishonjazz said:
Ya 40 is closer to what I was thinking
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Nah, a lot lower than that. Almost all of that income will be taxed at the marginal rate of 37% (anything above 500k), then you have a couple of percent FICA tax, and 12% California state tax.

Not counting any deductible magic I'm sure his army of accountants will come up with.
 
Fosto said:
Nah, a lot lower than that. Almost all of that income will be taxed at the marginal rate of 37% (anything above 500k), then you have a couple of percent FICA tax, and 12% California state tax.

Not counting any deductible magic I'm sure his army of accountants will come up with.
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It will end up being about 50/50. State tax can be spread amongst the states based on games played. Most of you FICA phases out early, so its just Medicare. He will "take home" around 30M depending on his tax planning and agency fees.
 
Handlogten's Heros said:
It will end up being about 50/50. State tax can be spread amongst the states based on games played. Most of you FICA phases out early, so its just Medicare. He will "take home" around 30M depending on his tax planning and agency fees.
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Yeah, my own estimate was 29m. That sounds about right.
 
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