In a new study, the Canadian Taxpayers Federation looks at the salary spending of various NHL teams.

It also looks at the personal income tax rates of players’ relevant provinces or states, and at the league’s industry caps. Further, the study takes into consideration the tax impact of off-season trades.

Read: Cross-border concerns for athletes

For example, right-winger Pierre-Alexandre Parenteau can expect to pay an additional $349,535 in taxes after being traded to the Montreal Canadiens this year—he moved from Colorado’s 46% tax rate to Quebec’s 54% rate.

At the other end of the spectrum, former Ottawa Senators centre Jason Spezza will collect tax savings of $394,732 since he was traded to the Dallas Stars and moved from Ontario’s 49% rate to Texas’ 41% rate.

When moving to new teams, “there are factors at play besides taxes,” says CTF research director Jeff Bowes. “But the fact remains that disparities in tax rates leave some teams [and players] at a major disadvantage.”

Read: Blame high taxes when your favourite NHL team loses

When looking at the best locations to play, the study finds Calgary and Edmonton took the top spot, up from fifth place in 2012. Meanwhile, Florida, Tampa Bay, Dallas and Nashville fell from the top spot in 2012 to be the third-best locations this year.

Along with looking at taxes, the study notes Edmonton and Calgary’s true salary cap (amount after income taxes) is sitting at a league high of $39.6 million. For highest to lowest in Canada, that’s followed by Vancouver’s ($35.4 million), Winnipeg’s ($34.8 million), Toronto’s and Ottawa’s (both $33.1 million) and Montréal’s ($29.6 million) salary caps.

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