|03-07-2013, 11:37 PM||#1|
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Join Date: Jul 2004
Ravens QB Joe Flacco Not NFL's Highest-Paid Player After Maryland Taxes
When breaking down Joe Flacco's new contract -- a $120.6 million behemoth that makes him the highest-paid player in NFL history -- we can talk about a lot of things but we should definitely talk about taxes, because they're hitting Flacco pretty hard.
According to Americans for Tax Reform (atr.org), by sticking in Maryland, Flacco will now pay a marginal income tax rate of 51.98 percent. He's also paying an additional $1.72 million per year by being in Maryland, as opposed to signing with a franchise that resides in a no-income-tax state like Texas or Florida.
Per ATR, it's actually Drew Brees -- who has a marginal income tax rate of 49.4 percent in Louisiana -- will make $470,000 more per year than Flacco once taxes are calculated.
So, yes, Joe Flacco remains the highest-paid player in NFL history but he's making "less" if you start to factor in taxes.
Source: CBS Sports
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