By Caleb Alexander, Tax Senior
In response to a California Democratic Party Tweet welcoming Lebron to the neighborhood, Republican Devin Nunes, R – California, tweeted “LOL! Prepare to pay the highest taxes you ever have in your career!!! You should have held out for more just to afford the Moonbeam weather tax!!!”
The NBA’s four-time NBA MVP, three-time NBA Finals MVP, fourteen-time NBA All-Star and three-time NBA Champion has signed a four-year contract with the Los Angeles Lakers. Notorious for his dramatized announcements, LeBron anticlimactically announced his next destination via Twitter. The four-year contract worth $153.3M will pay James roughly $500,000 per NBA regular season game in the final year of his contract. While the annual salary amounts are similar to his time in Cleveland, how much of his new contract will he see once the California Franchise Tax Board takes their cut?