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Bryant's total take home of the $24.3 million check is subject to heavy taxes, which could total as much as 55 percent of his salary. That would reduce his take-home pay to closer to $11 million, according to Robert Raiola, a certified public accountant who heads up the sports and entertainment group at FMRTL in Cranford, N.J.
In his tax bracket, Bryant is subject to paying a federal tax at the top rate of 39.6 percent, which would mean $9.6 million will be withheld by Uncle Sam. As a California resident, he's subject to paying an additional 13.3 percent, or $3.2 million, in state taxes. California has the highest state income tax in the United States. The Medicare tax and surcharge would reduce his total take to about $10.9 million, Raiola said.
Bryant will pay so-called "jock taxes" to states in which he plays on the road. But those payments will be credited toward his California income tax.
Bryant's salary this season is the second-largest salary in NBA history, behind the $33.1 million Michael Jordan made in 1997-98.
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Bennett doesn't have to be a great player. He just can't be a bust. To me his benchmark is Glen Robinson. If THAT undersized scoring forward (and #1 overall pick) carved out a nice career, Bennett can do the same. But it looks like he's the worst one since Bargnani.
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But Im DONE standing up for these n---as! All this s--- does is cost me money.
