LeBron James’ move to Lakers could cost him $20 million in taxes

[ericc]

Gov. Jerry Brown has gotten a lot of credit for California’s fiscal rebound. When he came to office, the state budget was running a deficit of $27 billion; now, as Brown leaves office, he’ll leave his successor, Gavin Newsom, with a $15 billion rainy day fund.

Thanks, Jerry! But Californians actually should be thanking other, richer Californians. Under the state’s progressive tax structure, 46 percent of state income taxes are paid by the top 1 percent.

https://calmatters.org/articles/lebron-james-california-income-taxes/

First, what is a California 1 Percenter? It’s those making at least $580,429 a year, according to the state Department of Finance.

And the average earnings of the 1 percent? $1.9 million. That’s 23 times more than the average California filer’s $83,256 income.

[mngambler]

meh, he don't care...his salary is merely his 'walking around, pocket money' it doesn't even make up 20% of his overall net worth...80% of their (biggest stars in the league) money comes from shoes/endorsements/etc

[gojetsgomoxies]

as per first response, doubt lebron cares.......... pretty sure many people would move to LA if given the choice of that or lower taxes.

what about players who are drafted into high tax states?.. i'm thinking one day there will be a court case on this, but the courts seem pretty soft on it (don't see NBA as some sort of natural monopoly, or have monopoly on best arenas)

[7deuceoff$uit]

I'm sure he has a good accountant that is able to greatly reduce his tax bill.

[TiredPro]

He's a big lib......he loves to pay taxes to support all the entitlement programs that don't work.

[MinnesotaFats]

LOL

Anyone who lives in Vegas has seen the exodus of Californians to Nevada

Lebron James in a Laker uniform is worth $5billion in imaging rights alone

$20mill in taxes no biggie for a guy larger than the league