Outside Topic Richard Sherman and Taxes - Printable Version

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Richard Sherman and Taxes - cardcrimson - 12-07-2020

Apparently, Richard Sherman was interviewed yesterday by Steve Levy and the MNF announcing crew and was asked about playing home games in Arizona. Sherman, always one step ahead, said there was one significant advantage: no state income tax. . . .

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RE: Richard Sherman and Taxes - CardinalSagehen - 12-07-2020

(12-07-2020, 02:06 PM)cardcrimson Wrote:  Apparently, Richard Sherman was interviewed yesterday by Steve Levy and the MNF announcing crew and was asked about playing home games in Arizona. Sherman, always one step ahead, said there was one significant advantage: no state income tax. . . .

It's a funny quip, but that's not accurate.  State income tax is lower, but not nothing in AZ.  It ranges from 2.59% to 4.5%, so for someone like Sherman it would be 4.5% vs. 12.3% in CA.

Secondly, unless he's planning to give up his CA residency (which is quite possible given contract negotiations and salary cap issues), he still has to pay CA the full amount and take a credit for whatever he paid in AZ, right?  Surely, we have a Controller / CPA type around here that can answer this definitively, but I'm answering based on personal experience that CA never gives up a penny.

In any case, I think Richard Sherman is awesome, and I think it's great that he's his own agent.  He probably has someone else do his taxes, though...

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RE: Richard Sherman and Taxes - Phogge - 12-07-2020

They should move him to safety next year and part ways with Jaquisty Tartt.

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