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The alternative is how much revenue it bring in. It might work for Georgia and Alabama but I'm not sure we'd bring in enough to offset.
I think the politics of giving tax breaks specifically to well paid college athletes is probably not good in Mississippi. Could be wrong about how sane or not our voters are, but just seems like a hard sell to say college athletes are going to make more than teachers but pay less in income tax.
I don't like it one bit, but from the government perspective it could make economic sense.
That's ridiculous.Alabama lawmakers file bill exempting NIL athletic compensation from…
State Rep. Joe Lovvorn (R-Auburn) introduced HB 240, the Competitive Edge NIL Tax Cut Act, which would exempt any compensation earned by student-athletes…
Insane. So all the regular college students, alumni, staff, and faculty have to pay taxes on their income, but not these athletes? Why the f*** are they special? That's bs. We wonder why so many of these "kids" are entitled?Alabama lawmakers file bill exempting NIL athletic compensation from…
State Rep. Joe Lovvorn (R-Auburn) introduced HB 240, the Competitive Edge NIL Tax Cut Act, which would exempt any compensation earned by student-athletes…
That doesn't matter. If nothing else, it's the appearance of preferential treatment. College athletics has already gone extremely overboard, so why add to it? Besides, if an athlete gets only a token amount (not a huge star) then he'll not have to pay any taxes anyway.
I think it’s about holding a slim recruiting edge.
Oh it's definitely about that. None of these legislators care about the players they just don't want their alma mater to lose out on a recruit to Florida, Tennessee, or a Texas school bc they don't have state income tax to deal with.
This. Started in GA and would guess it came about because their "rival" can offer no state income tax so we need to do that. AL see that and says hold on now and we are off to the races.
But the economic impact of those other businesses is not directly related to their ability to attract the best employees. There are some exceptions, sure, but most businesses will have the same economic impact as long as their employees are good enough.
You can make this argument in a vacuum but it turns into a slippery slope hell very quickly. "Hey you don't think my job contributes to the economy? Carve me out or enjoy losing your next election". You start doing this and we end up carving out the tax base before you know it.
What? Bruh, its clearly the teams that make it possible for the universities to even have employees.**
I know it's wayyyyy too much to expect out of elected officials, but it'd be nice if the ones getting behind this also had the thought of "I wonder if anybody else is deterred from locating here because of high taxes..."
You jest, but it has sadly come close to that. Or maybe “athletes allow universities to exist the way they do now with absurd amounts of money being spent on everything except the actual learning.”
Indeed. Policy preferences aside, I think most people here would agree that elected representatives not facing a term limit in our republic rarely have the balls to make tough decisions and will always defer to whatever stance keeps their job and the contributions flowing. Yet despite most of us nodding our head in agreement with that, we still love us some incumbent and keep sending the two flavors of spend more/dont fund it and tax less/don't cut back to office over and over and over to give us this big box of government **** that nobody really likes. Brilliant!
To be fair , it ultimately is or will be. Get rid of sports and see how many university jobs go away too
I'm guessing that won't matter. If our neighboring states start doing that to gain a competitive recruiting advantage, our state will do it anyway. Lane and Walker Manning and David and Dickie and crew will make sure of that.
I'm not sure what context you are using "earned income" in, but pretty sure that's going to be treated as just strait self employment income. The gray area is going to be whether every state the athlete plays a game in has a right to a cut of that money (as with professional athletes) or whether since nominally they have to claim it's not pay for play, that income is all earned in the state of their college. I would assume this is a function over form situation and the pay is going to be taxable the same way professional athletes are taxed if any state wants to make an issue of it.
Well, Florida, Tennessee and Texas don't have a state income tax, so maybe that's why?Alabama lawmakers file bill exempting NIL athletic compensation from…
State Rep. Joe Lovvorn (R-Auburn) introduced HB 240, the Competitive Edge NIL Tax Cut Act, which would exempt any compensation earned by student-athletes…
Then Alabama should eliminate the state income tax. Not treat athletes like royalty.
Legislators don't have the balls to just go ahead and drop the whole income tax. They just want to pass BS like this to coddle players even further.
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Ha, more likely that they are hearing, "Well if I go to Texas or Tennessee, I won't have to pay state taxes."
