If this is your first time stopping by, here are some other articles to get you caught up to speed in the series on the impact state income taxes could have on NCAA recruiting.
This is not likely to be welcoming news to the ACC football foes as they must now recruit against not only Florida State’s 2014 BCS Championship Title but also against the fact that FSU can pay Jameis Winston and Co. thousands more in net annual income.
This article only discusses state income taxes. College athletes would also be subject to federal and local income taxes. Provisions in the federal tax code allow for the deduction of state and local income taxes for certain income thresholds. Given this potential deduction on federal taxes, the variance in total income taxes owed may not be as drastic between conferences and schools. However, for simplicity sake - this article solely focuses on state income taxes.
Estimated football and basketball salaries provided by CNBC's Mark Koba (@MarkKobaCNBC).
- Estimated football salary: $178,000
- Estimated basketball salary: $375,000