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How are local and state taxes going to affect the Salary Cap?

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07-28-2005, 09:27 AM
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How are local and state taxes going to affect the Salary Cap?

Are teams in states like Texas and Florida going to have an advantage in that there is no state taxes so if they pay a guy 5 million and we paid a guy 5 million the player would choose there as he'd save 500k or so in state and local taxes?

If that is the case teams up in Canada will be screwed as they pay significantly more in taxes than NHL players in the states do.

Mayve this was addressed already but I hadn't seen anything on it and just find it interesting to see how this will be handled if it ias going to even be addressed at all.

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07-28-2005, 03:59 PM
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The state and local tax rate is actually slightly over 12% for incomes over 500,000 for NYS and NYC. And don't forget, all taxes in the United States cover income earned anywhere, so whatever assets a person has invested is also subject to tax. Plus, some countries (Sweden for one, the United States) subject their citizens to taxes on income earned abroad.

So, yes, I have no doubt that it will have an effect on the Ranger organzation's ability to offer contracts to free agents. It already has, Verbeeck signed with Texas back in the 1990s and supposedly Bure got some kind of package to ease the tax burden when he was traded here too.

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