expatriatedtexan
Illegitimati non carborundum
- Aug 17, 2005
- 19,480
- 16,525
We all talk about the tax situation but rarely mention the actual numbers involved. I decide to try and look it up and found a great source on the CPA Practice Advisor website.
Lowest Tax Burden by States (with NHL teams) Florida (6.05%) < Tennessee (6.07%) < Nevada (7.37%) < Texas (7.56%) < North Carolina (7.89%) < Michigan (8.02%) < Washington (8.04%) < Pennsylvania (8.36%) < Colorado (8.42%) < Massachusetts (8.55%) < Ohio (8.92%) < Utah (9.35%) < New Jersey (9.47%) < Minnesota (9.95%) < California (10.40%) < New York (12.02%).
I really couldn't find an equivalent report for Canadian provinces. These numbers I used above are the combination of an individuals State Property Tax Burden, Individual State Income Tax Burden, and State Sales & Excise Tax Burden.
But for what it is worth I have read articles by both Canadian as well as US Accountants who say when you are making the kind of money these guys are making, you can set yourself up with investments, retirements accounts, etc... where these tax rates, and even the highest ones in Canada (they specifically mentioned Montreal for what it's worth) can be essentially negated.
Also, every single player will have a different price they are willing to pay to play in a market they really feel at home in. Some will want to find the way to cash in as much as they absolutely can, knowing their career spans are much shorter in the NHL (5.5 years) than most other people's jobs, except NHL coaches... those bums can't maintain a job for more than 2.2 years on average.
Lowest Tax Burden by States (with NHL teams) Florida (6.05%) < Tennessee (6.07%) < Nevada (7.37%) < Texas (7.56%) < North Carolina (7.89%) < Michigan (8.02%) < Washington (8.04%) < Pennsylvania (8.36%) < Colorado (8.42%) < Massachusetts (8.55%) < Ohio (8.92%) < Utah (9.35%) < New Jersey (9.47%) < Minnesota (9.95%) < California (10.40%) < New York (12.02%).
I really couldn't find an equivalent report for Canadian provinces. These numbers I used above are the combination of an individuals State Property Tax Burden, Individual State Income Tax Burden, and State Sales & Excise Tax Burden.
But for what it is worth I have read articles by both Canadian as well as US Accountants who say when you are making the kind of money these guys are making, you can set yourself up with investments, retirements accounts, etc... where these tax rates, and even the highest ones in Canada (they specifically mentioned Montreal for what it's worth) can be essentially negated.
Also, every single player will have a different price they are willing to pay to play in a market they really feel at home in. Some will want to find the way to cash in as much as they absolutely can, knowing their career spans are much shorter in the NHL (5.5 years) than most other people's jobs, except NHL coaches... those bums can't maintain a job for more than 2.2 years on average.
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