I mean call it what you will. It's an advantage that Florida has over us and it is real leverage in contract negotiations. It could definitely play a part in why they don't need to hand out nmcs as much.
Prospect Info: 12th Overall 2024 Draft, LHD Zeev Buium
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I mean call it what you will. It's an advantage that Florida has over us and it is real leverage in contract negotiations. It could definitely play a part in why they don't need to hand out nmcs as much.
Disagree. Florida was a shit show for years and now that their team is good people need something to blame.
If your accountant is any good, it won’t matter at all which state you are in.
Dr Jan Itor
Registered User
The tax thing probably doesn't make a player sign with a dogshit no-tax team. But once that no-tax team gets good, it absolutely becomes a factor, amongst all of the other things.
And accountant's can't just do whatever they want to hide people's money. There's a limit, unless you want to accept audit risk. State governments seem to like getting the money that they think they're owed.
And accountant's can't just do whatever they want to hide people's money. There's a limit, unless you want to accept audit risk. State governments seem to like getting the money that they think they're owed.
BagHead
Registered User
The maximum pre-tax combined contribution for an IRA, 401(k), and HSA is $38,300
The lowest income someone someone can earn before they enter MN's top income bracket (if their spouse filing jointly earns no income) is $321,449.99. The league minimum salary in the NHL is $750,000.
Where are these good accountants hiding the remaining $390,250.01?
I think $70,000 extra dollars (roughly the amount that would be taxed in MN) is enough money that I would at least consider signing in Florida for the equal amount.
*edit* To be fair, I suppose we should also consider that players pay taxes based on where they earned the money, not where they're signed. That would lower the impact of state-tax-free teams. Not enough to completely mitigate it, since half your salary is still earned there, but to some degree. It's probably more like you're earning an extra $35,000.
The lowest income someone someone can earn before they enter MN's top income bracket (if their spouse filing jointly earns no income) is $321,449.99. The league minimum salary in the NHL is $750,000.
Where are these good accountants hiding the remaining $390,250.01?
I think $70,000 extra dollars (roughly the amount that would be taxed in MN) is enough money that I would at least consider signing in Florida for the equal amount.
*edit* To be fair, I suppose we should also consider that players pay taxes based on where they earned the money, not where they're signed. That would lower the impact of state-tax-free teams. Not enough to completely mitigate it, since half your salary is still earned there, but to some degree. It's probably more like you're earning an extra $35,000.
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Minnesota is fully welcome to change and become a no state income tax state. It's not the league's fault your system is set up the way it is. Take it up with those in charge.
My bad, I was thinking of federal income tax. They can do some crazy shiz with that and basically make your taxable income $0.
Dr Jan Itor
Registered User
In no way was I saying it was the league's fault for anything. State income tax is obviously a larger conversation outside of hockey, so nowhere really to go here.
It's a factor, like many other things. That is all.
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It may be a factor, but it's brought up way too often on this site as an excuse now that Tampa and Florida are having success. No one was talking about taxes when California, Illinois and Massachusetts won every single Cup from 2010-2015.
What did you post in the thread about intangibles? The reconciliation of attributes to results? No state income tax is the team/GM version of that.
Dr Jan Itor
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Dr Jan Itor
Registered User
I don’t think our GM should bend the knee to bottom of the lineup guys when it comes to trade protection. Drafting Buium should have cemented that for Middleton at least. If he wants to stay, he could work out a deal with us. If not, he is traded/walks and Buium takes his top 4 spot. Chisholm or Peart keep/take the 3rd pairing spot.
Top of the lineup players are different. Kaprizov has every right to ask for a NMC. Same with Faber when he is eligible. Same with Boldy, who only got a 10 team NTC for the final 2 years in his deal. Same with Ek, who has a 10 team no trade list.
I mean, think about that… Eriksson Ek received less trade protection than Gaudreau. That’s bonkers.
Hartman received less trade protection than Foligno, which makes zero sense.
I was recommended shift by shift videos for Buium on YouTube! I’ll have to check those out in a bit
The gap isn't that large in the end though. The Florida combined state and local tax rate is 7%. MN is 8.09%.
Lack if income tax isn't a lack of other taxes to make up for it.
DANOZ28
Registered User
what about the alternative minimum tax? i thought it was fed 36%? The Alternative Minimum Tax (AMT) is designed for high-income earners to ensure they pay a minimum tax. If you do not qualify for the AMT, you can pay the regular tax at your usual tax rate and take advantage of any deductions. The tax is applied through an exemption-based process: if your income is lower than the AMT Exemption for that year, you aren’t eligible for the AMT1. Incomes above the annual AMT exemption amounts typically trigger the alternative minimum tax, and calculating AMT is different from calculating your tax under regular IRS rules. Certain types of income and tax deductions that you may exclude or deduct when figuring your normal taxes may need to be added back into your taxable income under AMT rules. For example, AMT calculations require you to include income from incentive stock options that were exercised and any refunds you received for state and local income taxes2. The AMT rates are 26% or 28%2. If your income exceeds specific exemption amounts set by the IRS, you may be subject to the AMT when filing your tax return3.
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If you look at the 2022 draft, Nemec, Jiricek, Korchinski, and Mintyukov all played large parts of last season. Jiricek was probably the least successful, but the other three looked at least decent, if not better. You could argue that ANA, CHI, and CBJ all had weaker defenses, so it was easier to make their teams than Buium ours.
All three Dmen were picked at an earlier spot than 12. Mateychuk was picked at #12 that year, and hasn't played a NHL game yet, though he led his team to the Memorial Cup tournament, paired with our very own Kaleem Parker. He's a bit smaller than Buium, but otherwise a similar build and talent.
I can see Buium playing for us in 25-26 if he has a good year next year. Brodin will be aging but still competent, probably, Middleton will still be around, and at least one of Peart/Hunt/ROR/Lambos ought to be in the lineup, if not both.
All three Dmen were picked at an earlier spot than 12. Mateychuk was picked at #12 that year, and hasn't played a NHL game yet, though he led his team to the Memorial Cup tournament, paired with our very own Kaleem Parker. He's a bit smaller than Buium, but otherwise a similar build and talent.
I can see Buium playing for us in 25-26 if he has a good year next year. Brodin will be aging but still competent, probably, Middleton will still be around, and at least one of Peart/Hunt/ROR/Lambos ought to be in the lineup, if not both.
Some quotes from Buium while at the WJ summer showcase:
www.nhl.com
"We had conversations about [turning professional] but after having a really good, productive season as a freshman and such a good year defensively, I felt really good with where my game was at and I thought, ‘You know, if I can build on that going into next year I'm going to look a lot better by the end of the year,’" Buium told NHL.com. "That was a big point for me, and the Wild respected that. ... They thought the same thing. I want to try to win back-to-back World Juniors and back-to-back college championships. It's really hard to win two in a row, and you want to be on those teams, experience that, see what it's like and kind of get that experience."
2024 World Junior Summer Showcase: 3 things learned on Day 2 | NHL.com
Wild prospect Buium glad to be returning to University of Denver; Hemming set for OHL after being drafted by Stars
www.nhl.com
"We had conversations about [turning professional] but after having a really good, productive season as a freshman and such a good year defensively, I felt really good with where my game was at and I thought, ‘You know, if I can build on that going into next year I'm going to look a lot better by the end of the year,’" Buium told NHL.com. "That was a big point for me, and the Wild respected that. ... They thought the same thing. I want to try to win back-to-back World Juniors and back-to-back college championships. It's really hard to win two in a row, and you want to be on those teams, experience that, see what it's like and kind of get that experience."
He was a beast against Sweden today, primary and secondary assists, demonstrated highly impressive possession (that backhand carry of his is unstoppable,) and skating was beautiful with full shiftiness on display.
He looked fast out there too, had a rush where he caught Oliver Moore through the neutral zone, was absolutely blazing with the puck up the middle. He passed fast and hard, he played fast in his reads. He is going to eat the real tournament alive this winter.
Defense was hard to tell much beyond he has a very good stick, and generally challenges possession very well. I noticed 1 or 2 tiny positional mistakes, but otherwise, aggressive and effective was how he played today in all facets.
He looked fast out there too, had a rush where he caught Oliver Moore through the neutral zone, was absolutely blazing with the puck up the middle. He passed fast and hard, he played fast in his reads. He is going to eat the real tournament alive this winter.
Defense was hard to tell much beyond he has a very good stick, and generally challenges possession very well. I noticed 1 or 2 tiny positional mistakes, but otherwise, aggressive and effective was how he played today in all facets.
Waiver Draft
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Minnewildsota
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Prior to this play, he had one where he started with the puck at the right point, drove to the outside, shimmied around looking for a lane at the hashmarks, drove around behind the net to the left side, shimmied some more looking for a pass, then found himself all the way back at the left D position with the puck and made a pass. All that with a defender trying to pressure him the whole time and not coming close to taking it off his stick. Reminded me of Kaprizov when he circles the net.
BagHead
Registered User
Yes. This prospect is TaLoN approved, surely.
Absolutely. I have him ranked as our top prospect in fact.
Michael Farkas
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Not sure if you guys saw, but I made a post on the Prospects board about Zeev Buium's technical and mental progression. It may be of interest here and where ever else Minnesota fans congregate...
Signed,
Owner of a Pierre-Marc Bouchard red alternate jersey
Signed,
Owner of a Pierre-Marc Bouchard red alternate jersey
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