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.
While the $19,000 gap in net income between Villanova and Georgetown seems significant, the Big East is the NCAA conference with the least variation among conference teams. Whether this will make the Big East the most competitive conference is yet to be seen.
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