FC/OT: Okay, this is legit. Mississippi House passes ‘No Tax on NIL’ Bill.
- Thread starter Midnighter
- Start date
The priorities in this country are sooo effed up.
Watch them all still have to pay their federal income tax.
Tax rate is 4% on income over $10,000. What’s the total NIL payout for them? With about 3 million people in the state are we talking like a $0.50 or less per capita hit?
Why would an already impoverished state like Mississippi push aside revenue that could benefit their residents? Of course they'll go with their hands out to the Feds for shortfalls. More demonstrated fiscal responsibility. LOL
The same reason every other state supports tacpx breaks.
Why were cities lining up to give amazon tax breaks? Why does California give Hollywood tax breaks?
Were colleges paying tax on the same revenue before nil?
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Perhaps that will help to keep Mississippi among the poorest states. At least their CFB is good. The people there can take comfort in that.
If states could exempt folks from the Fed's income tax, Florida would have done it long ago I'm sure.
That said, half of them won't file - or file inaccurately. They'll end up facing fines and penalties they won't understand and think unfair. Should be a nice wake up call for many.
Do you complain about the tax breaks in your state? Did tax breaks hold down silicon valley?Perhaps that will help to keep Mississippi among the poorest states. At least their CFB is good. The people there can take comfort in that.
Tax breaks are typically granted for a common good like job creation. Helping the local football team is an outlier for tax breaks.
Right. We all benefit from billionaire sports team owners getting a new stadium and raising our ticket prices. Sarcasm
Well let's see, Amazon & Hollywood are creating jobs for the residents.
The state of Mississippii gets roughly 45% of it's state revenue from the Federal Government. That has been a consistent number for several years.
All the more reason to not give a tax break to people who give nothing in return such as jobs to the state. I know it's not a huge amount of taxes, but it is the principal. Perhaps next, the state legislators will do away with taxes on NIL contributions to athletes attending college in the state, if they haven't already done so?
Just another step down toward the bottom. I will continue to follow and watch wrestling, and I know those kids get NIL too. I am done with football though and I couldn't possibly care less about basketball. Just part of my journey of disenchantment with sports in general.
About to join you. I saw an eighth grader post a commitment graphic on twitter to a high school.
Why not? We know many top HS sports programs recruit ….
Joe the plumber with 10 employees creates jobs. Anyone who is self employed created a job.
A college football team with a 80,000 seat stadium, $200M in revenue, $30m payroll, $20 m coaching staff creates a few jobs too.
A movie that films in a city for two weeks does not create any long term jobs.
Most tax break deals are nothing but patronage for campaign contributors. If it was about creating jobs then put the criteria in writing and let EVERY business that creates jobs have a pro rated break based on how many jobs they create.
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My friends that go to Gulf Shores Alabama annually say its great.
Years ago, I lived outside of Jackson for 13 years. Only made it to Biloxi beach a few times and it was nice and not very crowded. That was before the casino boats arrived so I don't know how it is now.
I am thinking they should try to attract more tourism business. They are on the gulf.
