Butthurt in Joisey

[Guest]

@RushmoreVike said:

@A1Janitor said:
When a guy takes less money to play somewhere else other than the Jets, it's an indictment against the Jets. Not the Vikings or the player.  

And it ain't taxes - he is paying 300k more in minnesota.  and it ain't weather.  

Is that right considering he will be paying michigan taxes and not minnesota?

And why is that?

[Guest]

Reciprocity

[Guest]

Assuming he lives in Michigan ... He earns his income in Minnesota and therefore he is responsible for nonresident Minnesota taxes.  Which is higher than New York and New Jersey.  

Reciprocity supports my argument. 

[Guest]

He has a home in Michigan

[Guest]

Again ... Where you EARN THE MONEY is where you are taxed.  

I do do enough multi state returns to know.

[Guest]

Minnesota and Michigan have an agreement:
if you live in Michigan and work in Minnesota you pay Michigan rate on taxes.

[Guest]

Wow - i do minnesota taxes and michigan taxes - but not with reciprocity.   

The reciprocal agreement with NY and other states is different.  you pay the higher tax between the two states and the lower tax goes to the state you live in. 

So I was wrong.  Another reason to fuck NY. 

[Guest]

@A1Janitor said:
When a guy takes less money to play somewhere else other than the Jets, it's an indictment against the Jets. Not the Vikings or the player.  

And it ain't taxes - he is paying 300k more in minnesota.  and it ain't weather.  

Cousins built a house in Michigan in 2017, so presumably that is where he plans to live in the offseason. Michigan and Minnesota have a reciprocal agreement, according to Robert Raiola, director of the Sports & Entertainment Group at the CPA and consulting firm PKF O’Connor. That means Cousins would not have to pay Minnesota tax, just Michigan. The Michigan tax rate is 4.25. If he signed with another team, he would have to pay tax in that state and Michigan. New Jersey’s tax rate is 8.97 by comparison. 

https://www.google.com/amp/s/www.dailyno...ed-tax-law

[Guest]

simple, you register yourself as a "brand" under a Delaware/TX LLC... wow suddenly it's still your personal income taxes but you don't pay those rates.  It's a big reason all the "big corps" are registered in one place or the other. You literally can reg yourself as a corp, I've seen a ton of insurance agents use that very loophole, and they exist as a citizen of a different state. Pro athletes don't pay state taxes if their agent is even marginally competent.

[Guest]

@A1Janitor said:
Again ... Where you EARN THE MONEY is where you are taxed.  

I do do enough multi state returns to know.

Read an article that states he'd be at the Michigan rate...but I didn't stay at a Holliday Inn Express last night...