This new bill introduced in the Georgia legislature would exempt NIL compensation received by college athletes from state income tax.
- Thread starter FlyingPenguin
- Start date
Can we go ahead and just exempt all 1099's? Asking for friend.
College athletics have died and gone to hell
I get it this will help. I get it many don't make much at all and it's good for them. I also am irritated as a father of 3 kids working his ass off to battle inflation and you have guys making half a million who don't have to pay taxes on it. But they also can do things I can't on a football field so there's that!
I mean, let's be honest...this is bullshit. I don't care what "advantage" it may give UGA. I don't support this.
Federal and state tax codes are nothing if not arbitrary.
I'm guessing it's driven by trying to compete with the Texas, Tennessee, Florida, etc. schools.
As someone who doesn't live in GA nor pay income tax in the state of GA it doesn't bother me much. I'd be pissed if I did though.
Wow - somehow, this just keeps getting dumber.
Just think of it as a "championship tax"
It’s akin to movies being granted tax credits and corporations for doing business here. I make more $ than many (not claydawg I don’t think) and don’t agree with this at all but I understand the angle as it’s already happening just not at the individual person level. I wonder, however, does it then translate to pro athlete endorsement deals as well? I can only assume it does. Will be interesting to see if doctors try to angle that it’s their name, image, and likeness that drives the revenue to their practices.
This is such Bull Shit
Agree 100000%. This is because most of these kids aren’t prepared to pay and file taxes since it’s all reported on 1099s.
Did we miss on recruits because of State income tax? Doubtful.
At some point these kids need to grow up and quit living off of their football prowess. I'm looking forward to the day when we can find out how much they are being paid and then hold them to a standard of competency. If they dont perform, cut them just like the pros they aspire to be like
We should make where a championship earns those players a two year exemption. No income tax is only if the team wins it all lol.
This is wholly unnecessary given that the players had no idea that they were supposed to pay it in the first place.
Can we give them a “get out of jail free” card instead?
I guess we can name this the Justus Terry rule.
Still gotta pay federal income tax on the NIL earnings. The IRS is watching.
I live in TN, which has no state income tax. So I don't have a dog in the fight. But if I lived in GA, I wouldn't be thrilled about this proposal (unless I was a player).
I live in TN, which has no state income tax. So I don't have a dog in the fight. But if I lived in GA, I wouldn't be thrilled about this proposal (unless I was a player).
Lot of people ITT that probably aren’t typically stumping for more taxes, but are in this instance lol
I have to agree with you there. I don’t live in Georgia (or a state without a state income tax), but it seems that if you can make this exception for college athletes they may want to consider just doing away with the state income tax for everyone.
Well in those cases there is no state income that for anyone…a little different don’t you think? Isn’t Tennessee also a no state income tax state?
Ridiculous.
Why should a paid athlete be different from anyone else?
Why should a paid athlete be different from anyone else?
Better win some more championships quickly… a lot of folks are going to sour on this and throw their hands up.
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