Will Taxes Affect Carmelo Anthony Staying a NY Knick?
This die-hard NY Knicks fan says he would not be surprised to see Carmelo Anthony leave New York – and if he does, perhaps one of the reasons would be taxes. Even with all it has to offer, The Empire State has become the Must-Leave State with Census Bureau estimates revealing that 104,470 more people moved out of New York than moved into it during the 12 months ending July 1.
This was the largest net domestic migration loss sustained by any state – and follows on the statistics which show that more than 1.6 million New Yorkers moved out of state between 2000 and 2010.
Having represented many professional athletes (including Knicks coach Derek Fisher & Front-office staff Allan Houston when both were players), I know well that many NBA players are concerned – and cognizant of how much money they actually put in their pockets. While no one will feel sorry for Anthony with a 9 figure contract, New York taxes are tremendously high — and state and local taxes much friendlier in other markets.
Mayor Bill de Blasio is determined to raise income taxes in America’s largest economic capital today, hundreds of thousands are leaving. One wonders if markets with friendly tax environments get better players.
Fans – and readers of Gambling 911 – should realize that taxes absolutely impact players decisions of which cities to play in.
Ronn Torossian is an entrepreneur – and contributor to Gambling 911.
