The NBA Lockout: Tax Implications of a Shortened Season

THE NBA THE IRS LOCK OUT G NBA AND A HALF-DEFLATED SEASON Big Piles of Monoy KOBE BRYANT $25.2 THE BIGGEST SALARIES IN BASKETBALL (2011 - 2012 SEASON) = TAKE HOME PAY = UNCLE SAM'S TAKE (BASED ON A 35% TAX BRACKET) RASHARD LEWIS $21.1 MILLION TIM DUNCAN KEVIN GARNETT $21.2 GILBERT CARMELO ANTHONY PAUL GASOL $18.7 DIRK NOWITZKI $19.1 VINCE AMAR'E STOUDEMIRE CARTER $18.2 ARENAS $21.1 MILLION MILLION MILLION $18.3 MILLION $18.5 MILLION $19.2 MILLION MILLION MILLION MILLION Income Diuparity CHUMP CHANGE AVERAGE PLAYER SALARY MINIMUM NBA SALARY FOR FIRST-YEAR PLAYERS FOR MAJOR LEAGUES (SEASONS STARTING 2010) $623,646 - $811 MILLION IN TAXES FROM NBA PLAYERS IN 2012 THE IRS WILL COLLECT AN ESTIMATED $5.15 MILLION $473,604 NBA gола рау $349,458 $3.34 MILLION MLB estimated taxes $183,102 $139,050 $2.4 $108,122 NHL MILLION * $41,673 NATIONAL AVERAGE WAGE INDEX 2002-03 2011-12 2020-21 $1.9 MILLION NFL 1) CALCOLATED USING HTTP://WWW.MONEYCHIMP.COM/FEATURES/TAX BRACKETS.HTM FILING AS HEAD OF HOUSEHOLD IN CORRESPONDING YEARS FOR PAST YEARS, CURRENT YEAR FOR FUTURE YEARS Lets Run Seme Numberu! THE AVERAGE NBA GAME POURS $1.3 MILLION INTO THE LOCAL ECONOMY mubiplied. by THIRTY TEAMS COMPETE IN WITH AN AVERAGE OF 15 GAMES X 80 GAME DAYS IN A GIVEN GAME DAY IN A GIVEN NBA SEASON that's $1.5 Billion ivnito local economies in an average season SUBTRACT 14 GAME DAYS (THANKS TO THE LOCK OUT) fori a grand tatal of $273 MILLION LOST IN LOCAL ECONOMIES FROM SEA TO SHINING SEA The Employment Coat 4 the fans all went to work insted. APPROXIMATELY AVERAGE U.S. HOURLY WAGE 700 $19.52 2.5 HOURS 17,323 LENGTH OF BASKETBALL GAME AVERAGE NBA ATTENDANCE. WORKERS STAFF EACH GAME $845,362 IN AVERAGE EARNING POTENTIAL EACH GAME LOWEST TICKET PRICE AVERAGE TICKET PRICE HIGHEST ICKET PRICE %24 78% OF THESE ARE PART TIME WORKERS MEMPHIS GRIZZLIES LA. LAKERS WHO.ARE LEFT WITHOUT Ten WORK DURING STRIKES years ago it was just $25 Fan Cost Index ( FOUR AVERAGE TICKETS + TWO SMALL DRAFT BEERS + FOUR SMALL SOFT DRINKS + FOUR REGULAR HOT DOGS + PARKING FOR ONE CAR + TVWO GAME PROGRAMS + TWO ADULT CAPS HIGHEST FAN COST INDEX IN THE NBA IS FOR THE NEW YORK KNICKS AT $506 NEW YORK CITY SALES TAX IS 8.875%, MAKING THE TOTAL SALES TAX PER FAMILY $44.90 THE AVERAGE SHAQUILLE IRS handy notes SHOE SIZE IN O'NEAL WEARS THE NBA IS A WHOPPING collection check list V plaupr sataries V arena employe salaries V ticket sales V arena property taxes panking V Concession sates V memorabilia V tauvel & lodging for athletes & fans V and evenpthing ehe! 14.5 23 Thore are appronimately 38,000 deti on a baiketbal SOURCES http://www.koco.com/t/29652696/detail.html http://www.forbes.com/2011/02/17/average-sales-tax-rate- récord-high-shopping-arizona-25-highest-sales-taxes.html http://www.hoopsworld.com/nbas-top-50-highest-paid-players/ H&R BLOCK http://www.nytimes.com/1992/11/04/sports/basketball-nba- tickets-for-4-up-9.html http://en.wikipedia.org/wiki/Tax_bracket http://www.data360.org/dsg.aspx?Data_Set_Group_ld=73&count=all http://www.moneychimp.com/features/tax_brackets,htm http://en.wikipedia.org/wiki/Shaquille_0'Neal Design/Illustration: Evan MacDonald http://www.hoopsworld.com/nba-salaries NEVER SETTLE FOR LESS" http://www.nba.com/2011/news/features/steve aschburner/08/19/ average-salary/index.html http://sports.espn.go.com/nba/news/story?id=5846998 http://www.spalding.com/faq.html http://www.iamagm.com/news/2011/04/14/nba.attendance.results. total.league.average.slightly.heat.lead.all.teams.road www.hrblock.com f www.facebook.com/hrblock Created by oBizMedia $95