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11-18-2003, 05:10 AM
Join Date: Jun 2003
Location: Nashvegas, Tennessee U.S.A.
Originally Posted by
My money isn't as sweet as it sounds. After taxes, I walk away with only 60% of my blockbuster deal.
True story, the Nashville Predators play in St. Louis and thus have to pay St. Louis/Missouri income tax for the days they play. # of days X (amount of salary/number of days from start of regular season till end). The Missouri government actually expects the Predators to pay for a full day of income taxes regardless of how many hours are spent there. I think there income tax is like 10 percent.
So let's do the math with Timonen's contract. He makes 2 million. Divided over the regular season (179 days), he makes $11,173 per day. He flew into St. Louis at 11 pm and proceeded to spend the night. The next day, they played St. Louis and flew home afterwards. The Missouri government expects him to play for 2 full days of service or around $2,230 dollars! It's worse when you are talking about Holik money. Then that becomes around 8 to 10 thousand in taxes per game played in Mizzou. Can you believe the Missouri government expects Timonen to pay 1,100 just for the right to spend the night the day before a game. Needless to say, the Predators accounting department refuted the goverments claim to Timonen's cash and Timonen/Nashville eventually won. It saved the Predators players around $12,000 total per visit.
Actually, to accommodate the tax collectors, I believe the way NHL (and really almost all sports) contracts work is that players are paid on a per-game basis. In fact, they usually pick up checks after every game (or road trip in this case). So even though they don't spend 24 hours in St. Louis, they're making all their money there for the day. It's kinda like being paid a couple thousand dollars an hour.
So, while annoying and stupid, it's really no different than if you are I were to go to Missouri for the day on a consulting job. We'd have to pay Missouri taxes too for that day we worked.
One of the reasons why the Preds can pay a little less on their contracts is because our great state doesn't have an income tax. So half the money on their contract isn't taxed....which is way better than just about any other team out there.
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