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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.
We combined the jock tax and jock tax credit for each player to create the net jock tax. We then combined that figure with the federal, state and local taxes paid on total income to arrive at each ...
While an NFL player's income guarantees a certain level of financial security, there's at least one day of the year that they don't get to enjoy: tax day. What do NFL players pay in taxes? Skip to ...
Section 183(b)(2) provides that a taxpayer may deduct an amount "equal to the amount of the deductions which would be allowable [ . . . ] only if such activity were engaged in for profit, but only to the extent that the gross income derived from such activity for the taxable year exceeds the deductions allowable [ . . .
Harold Lloyd at the bottom of a pile on in the 1925 comedy film The Freshman, about a college student trying to become popular by joining the football team. In the United States and Canada, a jock is a stereotype of an athlete, or someone who is consumed by sports and sports culture, and does not take much interest in intellectual pursuits or other activities.
The jock tax is … Continue reading → The post What Is the Jock Tax? appeared first on SmartAsset Blog. In addition to the usual round of state and federal taxes, pro athletes may also be ...
In a battle that went to the Supreme Court, Cleveland's "jock tax" was ruled unconstitutional. The special 2 percent tax is assessed on visiting professional athletes and performers.
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