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erpowers

(9,350 posts)
Sat Sep 23, 2017, 07:27 PM Sep 2017

Stephen Curry will get less than half of his record $35 million salary here is what happens to the

Stephen Curry will set an NBA record by making $34.7 million for the 2017-18 season, but that doesn't mean he'll get to deposit anything close to that amount into his bank account.

Curry, a two-time MVP for the Golden State Warriors, made history when he inked a five-year, $201 million contract over the summer, briefly setting the mark for the biggest contract in league history. While that figure was eclipsed by James Harden's $228 million extension with the Houston Rockets in July, Curry will still enjoy the highest single-season salary ever, topping LeBron James by more than $1 million dollars.

But as lucrative as it is to be an NBA player, it's also an expensive profession. Thanks to a variety of factors, Curry will pocket less than half of his salary for 2017-18.

snip

$16 million to various levels of government is a staggering sum, but the state of California places notably heavy taxes on money earned from professional sports. Texas, for example, has no state income tax, so players like Harden don't have to give up as much in salary.

http://www.msn.com/en-us/money/personalfinance/stephen-curry-will-get-less-than-half-of-his-record-dollar35-million-salary-%E2%80%94-here-is-what-happens-to-the-rest/ar-AAsegpd?ocid=mailsignout

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Stephen Curry will get less than half of his record $35 million salary here is what happens to the (Original Post) erpowers Sep 2017 OP
FWIW California doesn't tax money an athlete makes on games played outside California Brother Buzz Sep 2017 #1
Oh, taxes. Iggo Sep 2017 #2
If I could only pocket $18 Million annually playing hoops, I'd quit and work an 8 to 5 job. Hoyt Sep 2017 #3

Brother Buzz

(36,212 posts)
1. FWIW California doesn't tax money an athlete makes on games played outside California
Sat Sep 23, 2017, 08:05 PM
Sep 2017

That's got to count for something.

 

Hoyt

(54,770 posts)
3. If I could only pocket $18 Million annually playing hoops, I'd quit and work an 8 to 5 job.
Sat Sep 23, 2017, 10:03 PM
Sep 2017

Same goes for football, baseball, tennis, cricket, soccer, chess, musician, actor, etc.

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