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Drew Pomeranz

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Offline  Re: Drew Pomeranz
#21

Posted: November 12, 2019, 5:48 AM Post
Posts: 846
There are only nine teams that reside in a state with higher state income taxes than Wisconsin (five of them inside California). Property taxes are also very high. That being said we do have great weather.


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Offline  Re: Drew Pomeranz
#22

Posted: November 12, 2019, 8:21 AM Post
Posts: 2056
Mr Southpaw said:
There are only nine teams that reside in a state with higher state income taxes than Wisconsin (five of them inside California). Property taxes are also very high. That being said we do have great weather.


I assume if the player plans, they "reside" in a tax friendly state. That way they are only paying Wis tax on the 81 home games and then whatever the state tax is where they play away games. I would assume that works.


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Offline  Re: Drew Pomeranz
#23

Posted: November 14, 2019, 9:32 AM Post
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Roderick said:
Mr Southpaw said:
There are only nine teams that reside in a state with higher state income taxes than Wisconsin (five of them inside California). Property taxes are also very high. That being said we do have great weather.


I assume if the player plans, they "reside" in a tax friendly state. That way they are only paying Wis tax on the 81 home games and then whatever the state tax is where they play away games. I would assume that works.


I believe it's where they earn their income, so WI would get taxes on the income made for the 81 games played there (plus home playoffs). Every other state in which he played would get income for the games played there, and the neutral state in which he resides would get taxes for income made while there, which may include a pro-rated portion of his ancillary revenues (shoe deal, commercials, etc.) but not for his baseball salary. I could be wrong on this, I'm not a CPA.

Regardless, I agree with the previous poster who said that Pomeranz pitched himself out of Milwaukee's price range. We have a lot of holes to fill, and I don't think that him - at the contract he'll probably receive - is going to be the best use of their funds.

"The most successful (people) know that performance over the long haul is what counts. If you can seize the day, great. But never forget that there are days yet to come."

~Bill Walsh


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Offline  Re: Drew Pomeranz
#24

Posted: November 14, 2019, 4:12 PM Post
Posts: 2714
^^ Based on everything I've heard, this is correct. Players get taxed in every state for the portion of their player-salary income they earn in that state.


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Offline  Re: Drew Pomeranz
#25

Posted: November 14, 2019, 5:55 PM Post
Posts: 8100
Mr Southpaw said:
There are only nine teams that reside in a state with higher state income taxes than Wisconsin (five of them inside California). Property taxes are also very high. That being said we do have great weather.


Don't forget the other part...cost of living is radically different in NYC, LA, SF, etc than Milwaukee. Heck, it's no wonder the entire league doesn't live in AZ instead of like half.


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Offline  Re: Drew Pomeranz
#26

Posted: November 14, 2019, 6:11 PM Post
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Location: bush Alaska
I'm not saying the above is incorrect. I have zero idea about how an MLB player is paid. But if the above is correct, to me it's nuts.

How many state income tax returns does an MLB player have to file then? I realize they have an accountant take care of it all for them but it's still insane.


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Offline  Re: Drew Pomeranz
#27

Posted: November 14, 2019, 6:13 PM Post
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I agree the Brewers need to add a starter who can go at least 6 innings and pitch well.


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Offline  Re: Drew Pomeranz
#28

Posted: November 14, 2019, 6:20 PM Post
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AKCheesehead said:
I'm not saying the above is incorrect. I have zero idea about how an MLB player is paid. But if the above is correct, to me it's nuts.

How many state income tax returns does an MLB player have to file then? I realize they have an accountant take care of it all for them but it's still insane.


Pretty sure they have to file in every state they play in throughout the season...

https://deadspin.com/lets-take-a-look-a ... 1706188663


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Offline  Re: Drew Pomeranz
#29

Posted: November 15, 2019, 12:23 AM Post
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Location: bush Alaska
sveumrules said:
AKCheesehead said:
I'm not saying the above is incorrect. I have zero idea about how an MLB player is paid. But if the above is correct, to me it's nuts.

How many state income tax returns does an MLB player have to file then? I realize they have an accountant take care of it all for them but it's still insane.


Pretty sure they have to file in every state they play in throughout the season...

https://deadspin.com/lets-take-a-look-a ... 1706188663


And now I've learned that there's a thing called the Jock Tax, and indeed that's a thing. Crazy, and I can't believe I never knew about it.


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Offline  Re: Drew Pomeranz
#30

Posted: November 15, 2019, 6:46 AM Post
Posts: 846
MNBrew said:
^^ Based on everything I've heard, this is correct. Players get taxed in every state for the portion of their player-salary income they earn in that state.


For anyone interested.

https://www.forbes.com/sites/kurtbadenh ... 944c8d411e


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Offline  Re: Drew Pomeranz
#31

Posted: November 15, 2019, 9:52 PM Post
Posts: 8100
AKCheesehead said:
sveumrules said:
AKCheesehead said:
I'm not saying the above is incorrect. I have zero idea about how an MLB player is paid. But if the above is correct, to me it's nuts.

How many state income tax returns does an MLB player have to file then? I realize they have an accountant take care of it all for them but it's still insane.


Pretty sure they have to file in every state they play in throughout the season...

https://deadspin.com/lets-take-a-look-a ... 1706188663


And now I've learned that there's a thing called the Jock Tax, and indeed that's a thing. Crazy, and I can't believe I never knew about it.


This wasn't always the case. In the 90's as salaries exploded, states saw this as a way of increasing revenues. It's athletes and all types of entertainers.


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