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States have also followed suit by enacting similar laws. [21] To date, 29 states have some sort of NIL legislation in place since the Alston interim policy was put into place. [22] For example, Illinois Public Law 102-0042 permits athletes to receive market-value compensation for the use of their name, image, and likeness. [23]
Then there's state tax, where filing can get "wildly confusing," according to David, if an athlete from one state attends college in another because varying state tax laws and residency requirements.
In the United States, the jock tax is the colloquially named income tax levied against visitors to a city or state who earn money in that jurisdiction. Since a state cannot afford to track the many individuals who do business on an itinerant basis, the ones targeted are usually high profile and very wealthy, namely professional athletes.
[82] [88] The law also provides for a 5% "income disregard", making the effective income eligibility limit 138% of the poverty line. [89] States may choose to increase the income eligibility limit beyond this minimum requirement. [89] As written, the ACA withheld all Medicaid funding from states declining to participate in the expansion.
An estimated $1.67 billion was spent in 2024 on student-athletes, according to a report from Opendorse, an NIL tech company. Nearly all of that was for men's sports, including $1.1 billion spent ...
The NCAA and major conferences, including the SEC and ACC, agreed to a settlement that would include almost $3 billion to current and former athletes.
As of 2023, the thresholds have remained the same since 2013 and are not indexed to inflation the way the regular tax brackets are. [10] The tax is applied on income from interest, dividends, rents, royalties, passive activities, and gain from the sale of most properties and is not indexed for inflation. [11]
More recently, efforts by the wealthiest universities to take better care of their athletes have put new financial pressures on other colleges. In January, the NCAA approved a change allowing Division I programs to offer athletes aid up to the full cost of attendance, which can amount to thousands of dollars a year to help players pay for ...