OT: CBA Discussion (All tax discussion goes here).

[Mikos87]

Friedman went over this in his last podcast using Matthews as an example. He’s getting a massive signing bonus from Tronna, and that’s being taxed in Arizona- another no tax state.

The big signing bonuses paid out on July 1st are currently the best way for teams in high-tax states to level the playing field against teams like Tampa, Vegas, etc.

Yes exactly. A major UFA lives in Tennessee for that reason. As does another one in FLA.

The dollars savings are significant. Take that, invest it, pass the time value of money and you're good.

 

[Mac n Gs]

Yes exactly. A major UFA lives in Tennessee for that reason. As does another one in FLA.

The dollars savings are significant. Take that, invest it, pass the time value of money and you're good.

Yeah, but it’s because it’s an “investment property” and he loves country music

 

[bobbop]

Friedman went over this in his last podcast using Matthews as an example. He’s getting a massive signing bonus from Tronna, and that’s being taxed in Arizona- another no tax state.

The big signing bonuses paid out on July 1st are currently the best way for teams in high-tax states to level the playing field against teams like Tampa, Vegas, etc.

Arizona is low tax, not no tax but your point is valid

 

[nyr2k2]

You know what I'd like to see? The CBA between the AHL and the PHPA. They don't seem to make it publicly available. The ECHL version is available, but not the AHL.

 

[sbjnyc]

Primary residence for tax purposes is generally where you spend the majority of your time. You'll need a good tax lawyer if you are in NY for 8 months but want to claim Florida as your primary residence for tax purposes to avoid paying NY taxes.

 

[CasusBelli]

All this to say that Zuccarello definitely won’t come back now.

 

[NCRanger]

Primary residence for tax purposes is generally where you spend the majority of your time. You'll need a good tax lawyer if you are in NY for 8 months but want to claim Florida as your primary residence for tax purposes to avoid paying NY taxes.

There's actually a way around this. Surprised it isn't used more often. Stay in a hotel. Yeah, it's stupid expensive, BUT, let's say the Rangers pay for the hotel as part of the contract? Happens in the real world all the time.

 

[sbjnyc]

NY classifies your primary residence as days worked

There's actually a way around this. Surprised it isn't used more often. Stay in a hotel. Yeah, it's stupid expensive, BUT, let's say the Rangers pay for the hotel as part of the contract? Happens in the real world all the time.

If the Rangers provide a place to live (including corporate apartments hotel etc) then it is included in NY's definition of "permanent place of abode". Basically if you are in NY 183+ days of the year you'll have a hard time establishing you are not a NY resident and the burden of proof will be on you. My boss lives in PA but his official office is in NY but splits time in the PA office. Over the past 10 years he kept an apartment either in NY or NJ. NJ and PA have a reciprocal tax agreement but none of them have one with NY so he keeps meticulous records of how much time he spends in NY.

 

[NCRanger]

NY classifies your primary residence as days worked

If the Rangers provide a place to live (including corporate apartments hotel etc) then it is included in NY's definition of "permanent place of abode". Basically if you are in NY 183+ days of the year you'll have a hard time establishing you are not a NY resident and the burden of proof will be on you. My boss lives in PA but his official office is in NY but splits time in the PA office. Over the past 10 years he kept an apartment either in NY or NJ. NJ and PA have a reciprocal tax agreement but none of them have one with NY so he keeps meticulous records of how much time he spends in NY.

No Ranger is technically working 183+ days a year in New York. At least 37 days of the season are outside of New York State. Also road days in between games.

Pre-season and playoffs are unpaid.

October through mid-April at most is slightly more than 6 months, subtract a little less than 2 with road trips.

 

[IDvsEGO]

There's actually a way around this. Surprised it isn't used more often. Stay in a hotel. Yeah, it's stupid expensive, BUT, let's say the Rangers pay for the hotel as part of the contract? Happens in the real world all the time.

The rangers cant pay for a hotel past a certain number of games per the CBA. It would be considered cap circumvention.

 

[romba]

My gawd would Boomer really appreciate how deep into tax this thread his gone