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10-01-2024, 02:20 PM
Updated 1:42 AM GMT+8, January 10, 2024
SACRAMENTO, Calif. (AP) — California Controller Malia M. Cohen wants Congress to change the tax code to cap deferred payments, a change that could ensure the state is owed more money from Shohei Ohtani.
Cohen made the request four weeks after the two-way star and the Los Angeles Dodgers agreed to a record US$700 million, 10-year contract that contains US$680 million in deferred payments due from 2034-43. If Ohtani is not living in California at the time he receives the deferred money, he potentially could avoid what currently is the state’s 13.3% income tax and 1.1% payroll tax for State Disability Insurance.
......
Ohtani’s deal has the potential to save US$98 million in state tax
https://apnews.com/article/shohei-ohtani...ed5cacd4ae
SACRAMENTO, Calif. (AP) — California Controller Malia M. Cohen wants Congress to change the tax code to cap deferred payments, a change that could ensure the state is owed more money from Shohei Ohtani.
Cohen made the request four weeks after the two-way star and the Los Angeles Dodgers agreed to a record US$700 million, 10-year contract that contains US$680 million in deferred payments due from 2034-43. If Ohtani is not living in California at the time he receives the deferred money, he potentially could avoid what currently is the state’s 13.3% income tax and 1.1% payroll tax for State Disability Insurance.
......
Ohtani’s deal has the potential to save US$98 million in state tax
https://apnews.com/article/shohei-ohtani...ed5cacd4ae
