It’s that time of year again. Super Bowl hype’s been building up for weeks, with predictions, bets, and sneak peeks of $8 million-a-minute commercials.
This year’s finale could have a strange twist for Broncos quarterback Peyton Manning, who’s enjoyed a dazzling comeback from a near career-ending neck injury.
A Super Bowl win for Manning would mean an extra $92,000. If the rings go to the Seahawks, Manning and his Broncos walk away with $46,000 each, notes K. Sean Packard in an article for Forbes.com.
Packard, an accountant who caters to pro athletes, says whether Manning plays next year depends on the outcome of an off-season neck exam.
“New Jersey, and every other state that imposes a jock tax, taxes players on their calendar-year income from each employer….If Manning is able to play next season, his New Jersey income tax would be $46,989 on $92,000 for winning the Super Bowl, or 51.08%. If they lose and he is able to play in 2014, he will pay New Jersey $46,844 on his $46,000, which amounts to a 101.83% tax on his actual Super Bowl earnings in the state—and this does not even consider federal taxes!”
Read the rest of this bizarre tax tale here.