Are we an attractive team for FA's now?
View Single Post
05-18-2011, 12:37 PM
Join Date: Sep 2004
Originally Posted by
Tax rate in New York at highest bracket is 35% US Federal tax + 7% NY State Tax + 3% NY Municipal income tax = 45%.
In Quebec, combined taxes can reach 52% I believe (it's 48% up to around 125k where canadian federal taxes get bumped up 4%).
On a $5M salary, it would be about $350k if you're a US Resident. If you're a canadian and have permanent residency in the province of Quebec (say a house), then you still pay 52% even though you play in NY.
Originally Posted by
At the US federal Level, the tax rate is 35% if your income is more than $373,650 according to :
And in the state of New York, it would another 8% if your income in greater than $200,000 according to :
For a maximum total of 43%. So about 5% more than here in Quebec.
At $5,000,000, you pay about $250,000 more in Quebec.
With our dollar being stronger than theirs and the price of housing way cheaper than in New York, I think taxation rate in Quebec is no longer an excuse.
either way, I think this shows why Taxes are likely NOT a big factor in the free agent game.
every year you see several athletes take a "home town discount" where they often leave much more than 200-300K on the table to play in an environment they are comfortable in.
Glencross did it this week to stay in Calgary, where the weather is just as bad and the city has far less to offer.
while pro sports is a business, hockey players are not "business men", at least not first and foremost.
they are athletes first, and the years of training and sacrifices they make on their way to the NHL is not done simply to maximize on their pay day (at least not the kind of players you want on your team
sports and lifestyle... those are the priorities of most...
where is their best fit as an athlete (chance to win, chance to play the role they want, chance to play with quality/complementary linemates), and where is the best fit for their lifestyle choices (family, hobbies, city vs rural bias etc).
imo the weather and the language are much bigger barriers than the taxes, and the weather is not much worse than most of the other markets, and the language issues are more than balanced by the cultural benefits of a metropolitan centre like montreal.
View Public Profile
Miller Time's albums
Find More Posts by Miller Time