Mississippi House passes law exempting NIL earnings from state income tax
- Thread starter Bigred2467
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That State is in pretty bad shape , fiscally speaking , they can't really afford to do without those tax dollars. My wife used to do social services work and prison ministry in that state, and I just can't fathom a scenario that they don't need that money. But if you're a eighteen to twenty two year old badazz football player, good for you. I suspect that could help sway a player or two and we'll see if other states follow
Maybe Brett Favre can close the gap by paying some of what he ripped off
They are following Arkansas' lead.
My wife has 50 some first cousins. Her dad is from outside Nashville, and her mom is from Indiana where my wife grew-up. We together have friends all over the country. Two years ago, when I was putting stamps on Christmas cards while I was sitting at my desk verifying some addresses using Google Maps. I pulled up Zillow. Started looking at property taxes everyone was paying. My wife has a lot of cousins living in Alabama, mostly around Huntsville, I know it is not Mississippi, but boy they hardly pay any property taxes and two of her cousins are doctors and dentists and their houses look pretty nice. I think they only pay $1500.00/year. No wonder the Deep South is so poor and have lousy schools.
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I still think these kids are going to get in trouble with the IRS.
If you can handle living in the south , there's a lot of communities that you can pay cash for a really nice house and have plenty left over after you sell yours from wherever you're currently living now
If you move south, they will never accept you. They might be polite, but they will always look at you as an outsider.
That state LOVES taking free money.
But they also seem to want to do nothing at all to help to make things better for themselves.
They’re eliminating property taxes and ours are out of control, because…..THE FIREMEN. J/K, its the teachers, again
My dad retells this story frequently...But back in the mid seventies , he had an aunt and uncle that moved to the hills of west , virginia somewhere , and even twenty five years later , the people in town still referred to them as the new people. Tru story.
When I got to WV in the 90s, there were hollers where even folks from the area would not travel up. A friend of mine from the southern part of the state said when you get deep rural down there, some weirder accents emerge.
Yep, wife attended school in Nashville. Polite but condescending to outsiders, i couldn't deal with the low iq southern "draw"
Why no tax on tips and overtime? We’re always carving out exceptions for political favor.
That is exactly what caused the growth where I live. People in the Seattle area sell their homes for $400k or more than what they can buy a home here for. My brother moved to Las Vegas. Most of his neighbors sold their expensive California homes and escaped to Nevada to avoid high taxes. I did read an article that could impact this exodus. This article stated that is getting increasing harder to find buyers for high priced homes in California. Locals can't afford them and the number of people from out-of-state with money who can afford them do not want to move there. Amazon is moving out of Seattle for an Eastside suburb, Bellevue (Costco and Microsoft headquarters are in the same area) to avoid Seattle taxes and regulations. Dutch Brothers Coffee, a homegrown Oregon company that is one of the state's biggest companies moved their headquarters to Phoenix.
I am not a tax expert by any means, but isn't the answer the difference between your federal return and state? Your state income tax return takes numbers off the FED, not vice versa? Wouldn't this be the same as living in a state with no income tax? You still have to file your fed
I get neither but if you're hard working enough to get overtime I'm not necessarily against that. Restaurants HAD been kinda screwing workers making a lot of their payment come from tips. This 15 dollar minimum wage may have changed that. I don't tip as generously as I used to since prices of meals have doubled which is partially food prices but equally due to doubling labor cost. Good service i still tip but if it's bad I won't.
Big difference between someone working a second job as a waitress or waiter trying to provide for their families and 18-22 year olds making millions playing football. Who can afford it more??
Why does a surgeon or police officer have to pay taxes? People who literally save lives still pay 30-50%, and a kid from a another state gets millions of tax breaks? What is sad is nobody will complain because they want a good football team. And more kids will want to be football players than surgeons.
I pay no state tax but I still have to pay Federal income tax. Why I think kids with NIL money will get in trouble with the IRS is because I believe a lot of them will think that if they get 2 million dollars, they can spend every penny of that 2 million dollars. Pro athletes are always getting in trouble over their taxes. College kids I would think would be even worse. I believe a lot of them will not set any money aside for Federal taxes.
Then I wonder if states like New Jersey (Rutgers) and California (UCLA and USC) are going to send college athletes a tax bill for the portion of their NIL money they earned for the day(s) they are playing in those states? These states already do it to pro athletes.
I could get behind police officers and state patrolmen not paying taxes. But the idea that spoiled athletes can make tens of thousands whether they play or not and not pay a dime in taxes is beyond stupid to me.
Yeah, it is almost so much of a meme and a farce that people just let it go. Doing this for a normal, essential person like an engineer who makes sure buildings don't collapse would piss a lot of people off. Just kind of points out how useless so many rich entertainers are to the fabric of the country. People won't be watching this shiite in 10 years anyway.