No Nevada state income tax and and FA signings

[Rdrfan1964]

How much did it help or did it?

[Nor_Cal_Raider]

is that really true; just cannot get my head around that…

Just check on Al and this is what it say

3
Understanding Sign-on Bonuses: Definition, Process, and Taxation
Yes, NFL players pay federal, state, and local taxes on signing bonuses, as they are considered taxable income.

Sorry, I was referring to the paying state taxes in states where they play games. I would think that only their weekly check would be taxable by other states.

[Attyla]

Sorry, I was referring to the paying state taxes in states where they play games. I would think that only their weekly check would be taxable by other states.

Signing bonuses are paid at a higher federal rate than normal wages. You are only taxed for the game check in the states you play in outside your home games. There is no proration of the signing bonus that would spread the bonuses out over the length of the contract thus affecting your game check rate of pay. Recoupment of sign on bonuses are recouped at 100% for prior year payments of sign on bonuses and then the player would file an amended tax return for the year the bonuses are paid out to get refunded the tax. And finally, if the bonus is paid in a current year, the recoupment amount is the amount minus taxes, SSI and medicare and an adjustment is done by the team accountant so a player paying back a sign on bonus, if that were the arrangement, would pay back the net and the team would adjust the wages for tax purposes. I think I hit all the payout possibilities. Oh, and in states where there is no income tax, the player does not have to file any tax paperwork in that state since the gross and the net are zero state taxes