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How new Georgia bill would exempt college students’ NIL dollars from state income tax
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How new Georgia bill would exempt college students’ NIL dollars from state income tax
ATHENS — A group of Georgia politicians have introduced a bill that would keep the state’s college athletic programs on an even playing field with chief rivals.
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Yeah, I’m a big fan and want to win all the ways, but talk about a can of dumb worms… would “pro” athletes’ income also be excluded to compete with low/no tax states? So to keep the Braves, Falcons and Hawks competitive with the Rays, Astros, Rangers, Titans, Dolphins, Cowboys, Rockets, Mavs, etc, let’s move them off the tax rolls too?
And then what about tech talent, home builders, law enforcement, etc? Let’s stay competitive there too. If this makes it past committee, some folks need their heads examined.
As a taxpayer, I'm not in favor of this. From a policy standpoint, if the State of Georgia wants to win and compete with other states, then eliminate the state income tax for EVERYONE.
Just one more nail in the coffin of college sports. People are getting tired of NIL and transfer news and now we add tax breaks for athletes money. It used to be stories on players or recruiting and even game recaps. Now it's all business. I'm just tired of the phrase " I made a business decision" from a 17 or 18 year old kid.
This is not a good idea for many reasons to numerous for elaboration.
Bad idea. If they want to keep players from paying State tax, the Collectives can accomplish this by doing a tax gross up —
Grossing up is a term used to describe raising the total amount of funds to be authorized as a cash award so that the net amount after required tax withholding will be an exact amount—usually an even dollar amount— that the employee is intended to receive.
There are so many more deserving employment classes that should get something like this - teachers, first responders, etc. to name a few.
The ones who should be getting tax breaks are those that live, and work in the state of Georgia. Not a kid fresh out of high school (many of whom are from out of state, not Georgia), someone who already has their entire college education paid (room and board, meals, books, tuition, among other things). And now 17, 18 year old kids playing a game, making more than a lot who work 40+ hours a week are purposely getting a tax exempt from state taxes. How is this money not considered income, taxable by state government? Something seems very wrong with this picture..
AMEN!!
In 1967, I pumped gas before my first quarter (that's what they were then) as a UGA student. I earned $1.00 per hour and had to pay taxes on that. I am beginning to believe that "competing" for unproven talent is more reprehensible than an extra loss or two. This tax evasion suggestion is approaching the obscene.
I live in Florida with no state income tax but I am a Georgia native with most of my family in Georgia.
I am not sure how this could be legal as it is unequal treatment. Why is one career treated differently than the other? NIL is the absolute worst thing to happen to college football. There is no going back so why do they keep making it worse?
My uncle drove the school bus at 16 years of age down in the country when he was growing up because there was no money to pay for a driver. Took everyone to the local school.
I have a hard time having sympathy for these guys coming out of high school that can't just seem to decide where they want to go play and for how much..
Are you kidding me? A tax break for football players? ****? How bout seniors on Social Security? How bout Veterans benefits? I could go on and on. We obviously need Musk and DOGE down here in Georgia!