NIL to be exempted from state taxes in Alabama?

[BamaNation]

College athletes could get tax breaks under new NIL bill: Will it boost Alabama’s recruiting?

If passed, the legislation would exempt college athletes from paying state income tax on their NIL compensation.

www.al.com

[this isn't a political statement]

Nope. Nope. and Nope.

I understand the sentiment and the stated intent but this is ridiculously bad policy. Many of these guys already probably don't even realize they owe taxes on their earnings. If we're gonna eliminate state income taxes on pampered athletes, let's cut out the taxes altogether for people who actually work for a living.

 

[gman4tide]

I contacted my legislators yesterday.

 

[Slowpoke Catracho]

College athletes could get tax breaks under new NIL bill: Will it boost Alabama’s recruiting?

If passed, the legislation would exempt college athletes from paying state income tax on their NIL compensation.

www.al.com

[this isn't a political statement]

Nope. Nope. and Nope.

I understand the sentiment and the stated intent but this is ridiculously bad policy. Many of these guys already probably don't even realize they owe taxes on their earnings. If we're gonna eliminate state income taxes on pampered athletes, let's cut out the taxes altogether for people who actually work for a living.

This, and exactly "This"!

 

[BamaHoHo]

From here on out my paycheck is identifying as NIL money!

 

[DzynKingRTR]

From here on out my paycheck is identifying as NIL money!

technically my paycheck is financial aid.

 

[Slowpoke Catracho]

I wonder if you can get NIL Money for posting on Tidefans?

 

[AlistarWills]

Can we do like some of these professional sports towns and charge taxes for visiting teams?

 

[Elefantman]

NIL money tax free. But if you transfer, you owe all the income tax plus a 500% penalty. And all tuition you would of have to pay if you were not on scholarship.

 

[Cruloc]

I can see resentment setting in. This won't go over well at all with most of the working fan base....that understands what's going on.

Remind me why these guys get scholarships now if they are making enough in NIL to cover?

 

[B1GTide]

If they win, the resentment will pass.

 

[JohnD]

NIL money tax free. But if you transfer, you owe all the income tax plus a 500% penalty. And all tuition you would of have to pay if you were not on scholarship.

Tuition? Is attending classes even a thing anymore? When is the last time we heard of a player's academics, or lack thereof, being mentioned?

 

[gman4tide]

If they win, the resentment will pass.

Negative ghost rider. The resentment will increase with me.

 

[day-day]

I'm guessing a lot of Alabama players are residents of states with income taxes and have to pay income taxes in their home state.

 

[SkullDuckery]

As I did my taxes this afternoon and owe the government…all this does is **** me off.

 

[rolltide_21]

Negative ghost rider. The resentment will increase with me.

 

[RammerJammer14]

If they win, the resentment will pass.

Maybe. But they aren’t doing too hot on that front. Just a lot of “me me me” talk.

 

[Cruiser]

I'm guessing a lot of Alabama players are residents of states with income taxes and have to pay income taxes in their home state.

Taxes are owed in the state where the revenue is earned

 

[Slowpoke Catracho]

I figure if they are using resources paid for by taxes then they should be paying their share also.

 

[mdb-tpet]

Yet another example of if your famous and make enough money, the rules just no longer apply to you. When is our generation going to get some guts, respect, honor, statesmanship, etc. and make a more perfect union instead of this mamby pamby nonsense?

 

[cdub55]

Will give a slight advantage until every state passes the same bill. Honestly just dumb. The people that fill up these stadiums and arena's are average joe's who will never make over 100k a year in their life but pay taxes on all of their earnings. So lets pass a law where someone who potentially will make generational wealth playing sports professionally, gets to keep all of theirs.