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Old 01-28-2014, 11:02 PM   #1
b381l
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Default NJ Taxes Could Eat Up All of Peyton Manning's Super Bowl Earnings

http://www.forbes.com/sites/kurtbade..._medium=social

I really love feel good stories like this. After reading this, I know you'll agree.

"Peyton Manning has the opportunity to pull a John Elway and ride off into the sunset as a Denver Bronco after winning his second ring, not that he wants to retire. His career will hinge upon an offseason exam on his surgically-repaired neck, according to ESPN ’s Chris Mortensen. Obviously, the most important implication of the exam will be Manning’s health. But whether his career continues will have an effect on how much tax New Jersey can collect from him for his appearance in the Super Bowl XLVIII."

"Should the Broncos beat the Seahawks, Manning—and the rest of his teammates—will earn $92,000. The loser’s share in the Super Bowl is $46,000. So why does Manning’s future beyond February 2 matter to New Jersey? It would seem logical that the Garden State would apply its tax rates on the $92,000 or $46,000 Manning earns for his week in East Rutherford. Unfortunately, we are dealing with tax laws, not logic."
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Old 01-28-2014, 11:26 PM   #2
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Default Re: NJ Taxes Could Eat Up All of Peyton Manning's Super Bowl Earnings

So is this a tax that NJ added in, or does this happen in every state the players travel to? If that is the case I feel bad for the Tax rep that files their taxes.
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Old 01-28-2014, 11:35 PM   #3
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Default Re: NJ Taxes Could Eat Up All of Peyton Manning's Super Bowl Earnings

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Originally Posted by rioninusc View Post
So is this a tax that NJ added in, or does this happen in every state the players travel to? If that is the case I feel bad for the Tax rep that files their taxes.
Every state that doesn't practice reciprocity with Colorado. What the article doesn't say is that he gets a tax credit to Colorado for the double tax on those same earnings. Filing tax returns for all these players is a lot of trouble and takes a bunch of time.
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Old 01-29-2014, 12:01 AM   #4
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Default Re: NJ Taxes Could Eat Up All of Peyton Manning's Super Bowl Earnings

Flat tax? Fairtax?

This article shows how ridiculous our tax laws are!
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Old 01-29-2014, 01:15 AM   #5
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Default Re: NJ Taxes Could Eat Up All of Peyton Manning's Super Bowl Earnings

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Originally Posted by ucan'tlickourcocks View Post
Flat tax? Fairtax?

This article shows how ridiculous our tax laws are!
flat tax/fair tax is a federal tax to take the place of our current tax structure......this is a state tax issue.
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Old 01-29-2014, 12:16 PM   #6
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Default Re: NJ Taxes Could Eat Up All of Peyton Manning's Super Bowl Earnings

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Originally Posted by b381l View Post
flat tax/fair tax is a federal tax to take the place of our current tax structure......this is a state tax issue.
And there are state tax solutions as well...... we even have one in our own beloved state! :)

http://www.scfairtax.org/
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Old 01-29-2014, 12:30 AM   #7
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Default Re: NJ Taxes Could Eat Up All of Peyton Manning's Super Bowl Earnings

Quote:
Originally Posted by b381l View Post
http://www.forbes.com/sites/kurtbade..._medium=social

I really love feel good stories like this. After reading this, I know you'll agree.

"Peyton Manning has the opportunity to pull a John Elway and ride off into the sunset as a Denver Bronco after winning his second ring, not that he wants to retire. His career will hinge upon an offseason exam on his surgically-repaired neck, according to ESPN ’s Chris Mortensen. Obviously, the most important implication of the exam will be Manning’s health. But whether his career continues will have an effect on how much tax New Jersey can collect from him for his appearance in the Super Bowl XLVIII."

"Should the Broncos beat the Seahawks, Manning—and the rest of his teammates—will earn $92,000. The loser’s share in the Super Bowl is $46,000. So why does Manning’s future beyond February 2 matter to New Jersey? It would seem logical that the Garden State would apply its tax rates on the $92,000 or $46,000 Manning earns for his week in East Rutherford. Unfortunately, we are dealing with tax laws, not logic."
boo hoo!
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Old 01-29-2014, 08:30 AM   #8
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Default Re: NJ Taxes Could Eat Up All of Peyton Manning's Super Bowl Earnings

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Originally Posted by partyguy708 View Post
boo hoo!

That's racist, bro.
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Old 01-29-2014, 01:12 AM   #9
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Default Re: NJ Taxes Could Eat Up All of Peyton Manning's Super Bowl Earnings

Quote:
Originally Posted by b381l View Post
http://www.forbes.com/sites/kurtbade..._medium=social

I really love feel good stories like this. After reading this, I know you'll agree.

"Peyton Manning has the opportunity to pull a John Elway and ride off into the sunset as a Denver Bronco after winning his second ring, not that he wants to retire. His career will hinge upon an offseason exam on his surgically-repaired neck, according to ESPN ’s Chris Mortensen. Obviously, the most important implication of the exam will be Manning’s health. But whether his career continues will have an effect on how much tax New Jersey can collect from him for his appearance in the Super Bowl XLVIII."

"Should the Broncos beat the Seahawks, Manning—and the rest of his teammates—will earn $92,000. The loser’s share in the Super Bowl is $46,000. So why does Manning’s future beyond February 2 matter to New Jersey? It would seem logical that the Garden State would apply its tax rates on the $92,000 or $46,000 Manning earns for his week in East Rutherford. Unfortunately, we are dealing with tax laws, not logic."
Now I understand why he keeps having to do those pizza commercials. Sad really.
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Old 01-29-2014, 01:31 AM   #10
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Default Re: NJ Taxes Could Eat Up All of Peyton Manning's Super Bowl Earnings

This article comes from Forbes Magazine. Take it with a grain of salt. If Manning pays an effective tax rate higher than a pair of married teachers, I'd be surprised. He's not to be pitied.
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Old 01-29-2014, 02:44 AM   #11
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Default Re: NJ Taxes Could Eat Up All of Peyton Manning's Super Bowl Earnings

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Originally Posted by Goofyboy View Post
This article comes from Forbes Magazine. Take it with a grain of salt. If Manning pays an effective tax rate higher than a pair of married teachers, I'd be surprised. He's not to be pitied.
You don't have a clue.
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Old 01-29-2014, 10:19 AM   #12
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Default Re: NJ Taxes Could Eat Up All of Peyton Manning's Super Bowl Earnings

Quote:
Originally Posted by Goofyboy View Post
This article comes from Forbes Magazine. Take it with a grain of salt. If Manning pays an effective tax rate higher than a pair of married teachers, I'd be surprised. He's not to be pitied.
T

Sadly this is true. Malcolm Senior was a friend of mine. He had little use for his dipshit son who has now turned a well respected business magazine into a yellow journalism rag.
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Old 01-29-2014, 10:45 AM   #13
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Default Re: NJ Taxes Could Eat Up All of Peyton Manning's Super Bowl Earnings

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Originally Posted by JohnnyB21 View Post
There are rumors he cheats on his wife and they have an 'open marriage'...

We wont know until a big headed, tall, oddly shaped quarterback allstar comes of of one of the 32 NFL team cities, most likely Indianapolis.
Have heard the same. Have a friend that says he used to hit on her and her friends when she lived in Indy. She's not the type to lie either.
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Old 01-29-2014, 01:36 AM   #14
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Default Re: NJ Taxes Could Eat Up All of Peyton Manning's Super Bowl Earnings

Fuggedaboudit!
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Old 01-29-2014, 01:40 AM   #15
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Default Re: NJ Taxes Could Eat Up All of Peyton Manning's Super Bowl Earnings

He really needs that money to continue his cheating/"open marriage" lifestyle.
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Old 01-29-2014, 08:19 AM   #16
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Default Re: NJ Taxes Could Eat Up All of Peyton Manning's Super Bowl Earnings

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Originally Posted by GamecockNeal View Post
He really needs that money to continue his cheating/"open marriage" lifestyle.
What the hell are you talking about?
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Old 01-29-2014, 09:55 AM   #17
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Default Re: NJ Taxes Could Eat Up All of Peyton Manning's Super Bowl Earnings

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Originally Posted by Lalli25 View Post
What the hell are you talking about?
There are rumors he cheats on his wife and they have an 'open marriage'...

We wont know until a big headed, tall, oddly shaped quarterback allstar comes of of one of the 32 NFL team cities, most likely Indianapolis.
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Old 01-29-2014, 04:56 PM   #18
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Default Re: NJ Taxes Could Eat Up All of Peyton Manning's Super Bowl Earnings

Quote:
Originally Posted by JohnnyB21 View Post
There are rumors he cheats on his wife and they have an 'open marriage'...

We wont know until a big headed, tall, oddly shaped quarterback allstar comes of of one of the 32 NFL team cities, most likely Indianapolis.
He cheats on his wife and has an, "open marriage?" So she cheats as well correct? That is what Open Marriage means! And why do you care what he does?
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Old 01-29-2014, 08:54 PM   #19
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Default Re: NJ Taxes Could Eat Up All of Peyton Manning's Super Bowl Earnings

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Originally Posted by InletCock1989 View Post
He cheats on his wife and has an, "open marriage?" So she cheats as well correct? That is what Open Marriage means! And why do you care what he does?

This.

And who gives a shit.
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Old 01-30-2014, 01:39 PM   #20
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Default Re: NJ Taxes Could Eat Up All of Peyton Manning's Super Bowl Earnings

Quote:
Originally Posted by JohnnyB21 View Post
There are rumors he cheats on his wife and they have an 'open marriage'...

We wont know until a big headed, tall, oddly shaped quarterback allstar comes of of one of the 32 NFL team cities, most likely Indianapolis.
There are rumors that JFK, Elvis, and Howard Hughes are still alive and live on an island, so I guess it must all be true.
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