Newsom’s California grabs huge chunk of Super Bowl QB’s winnings

Playing in California proved a net loss for the Super Bowl LX champion as the excessive “jock tax” calculated a tab greater than Seattle Seahawks quarterback Sam Darnold’s victory bonus.

Just when you thought the once-Golden State had tarnished its reputation enough seeking a path to reparations while aiming to squeeze billionaires for every cent they’re worth, the state’s burdensome taxes found some suggesting it never host a Super Bowl again. Breaking down the numbers of an expected $178,000 bonus for winning, Sportico reported that Darnold stands to lose over $70,000 for hoisting the Lombardi Trophy.

“Like other states with ‘jock taxes,’ California taxes non-resident pro athletes a percentage of their income based on ‘duty days’ spent in the state,” detailed the outlet, accounting for the day’s income earned whenever players play, practice, attend team meetings, travel for the game or speak to the media per player obligations in the applicable area.

Given the state’s tax rate and the number of days worth of player activities Darnold had participated in throughout the season, while accounting for his salary out of his $105 million contract with Seattle, the quarterback is expected to owe California $249,000 in taxes.

Reflecting on the tax implications for game day at the Super Bowl, American Institute for Economic Research research fellow Jeffrey Degner told Fox Business, “What that means here is that the winning team, their take-home pay will be approximately $86,000. If you’re on the losing side, the take-home would be about $49,800.”

During Monday’s episode of “Boomer and Gio” on WFAN, co-host Boomer Esiason argued the cost to Darnold and other players was enough to justify the NFL Players Association saying, “Hey, we’re not playing any more Super Bowls in, you know, in California. We’re just not doing it.”

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In addition to pushing through a sales tax on properties exceeding $5 million in value, the out of control money grabbing in California found the state legislature setting sights on instituting the proposed California Billionaire Tax Act that would allow the state to claim 5% of the value of the net worth of the wealthiest residents in the state.

Of course, such a move had been dubbed the “dumbest idea I’ve heard” by the likes of “Million Dollar Listing” star Josh Altman who followed the proposal to its expected natural conclusion. The realtor foresaw that, not only would billionaires carryout an exodus from the tax burden, but that the overall drain on the economy would amount to a loss of a trillion dollars in tax revenue as tons of people were put out of work.

Meanwhile, Degner reminded that California wasn’t the only state with a “jock tax,” as he told Fox Business, “The players have a really complex tax situation where they can have 10 or more different states that they’re having to file taxes for. This is why a lot of these young players, it’s really important for teams to settle them in with sharp financial advisors and tax advisors so that they don’t lose their shirts, so to speak.”

Kevin Haggerty

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