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Income Taxes › Athletes

Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect... more +
Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect income taxes based on a progressive scheme, while others may utilize a proportional or regressive framework. less -
Bowditch & Dewey

Olympic Medals and Income Tax

Bowditch & Dewey on

The 2024 Paris Olympics are in full swing, and it is never too early for U.S. athletes to consult with their tax advisor. As was done in 2021, the United States Olympic & Paralympic Committee has pledged to award U.S....more

Bowditch & Dewey

Olympic Medals and the Tax Man

Bowditch & Dewey on

As the Tokyo Olympics come to a close and the athletes return to their home countries, it may be time for U.S. athletes to sit down with their tax advisor. The United States Olympic & Paralympic Committee has pledged to...more

Foster Garvey PC

The Worlds of Sports and Tax Law Intersect During the COVID-19 Pandemic

Foster Garvey PC on

During these trying times, especially with stay-at-home orders still in effect in most states, it is difficult not to over-focus on the uncertainty that lies ahead. Hopefully, we can find healthy distractions to refocus our...more

Stinson LLP

Tax Cut and Jobs Act to Cause Significant Financial Disruption to Sports and Entertainment Businesses

Stinson LLP on

On Friday, December 22, 2017, President Trump signed into law the Tax Cuts and Jobs Act (the Act). While the emphasis of the Act focused on the reduction of corporate rates, and the repeal of the Affordable Care Act's...more

McDermott Will & Emery

Ohio Supreme Court Rules City of Cleveland’s Taxation of Nonresident NFL Players’ Compensation Out-Of-Proportion to Games Played...

McDermott Will & Emery on

On April 30, 2015, out-of-state professional football players earned victories against the City of Cleveland, Ohio. In a pair of cases decided by the Ohio Supreme Court, the court first struck the City’s method of allocating...more

Faegre Drinker Biddle & Reath LLP

Ohio Supreme Court Limits Ability to Assess “Jock Tax” Against Non-Resident Athletes

Faegre Drinker Biddle & Reath LLP on

The Ohio Supreme Court dealt a pair of blows to Cleveland’s so-called “jock tax” in separate decisions issued on April 30th. Although neither decision called into question a locality’s power to tax non-resident athletes and...more

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