Win Or Lose, Cam Newton Will Owe California $150K+ In Taxes
Nobody likes taxes and I mean nobody, especially when you see the amount you should have made before taxes. Uncle Sam pays everybody a visit eventually, unless you’re doing illegal stuff, but we won’t go there.
Carolina Panthers QB Cam Newton is no different from us or any other player in the league, different states have different taxes. Cam actually has to pay to play in Super Bowl 50 in Santa Clara today. How much you say? Take a look.
Win on Sunday, and Newton will pay California a total of $159,560 in taxes in 2016. Lose, and he will pay $159,200, based on an income reduction of $51,000.
The result: Newton will pay California 99.6% of his Super Bowl earnings if the Panthers win. Losing means his effective tax rate will be a whopping 198.8%. Oh yeah, he will also pay the IRS 40.5% on his earnings.
I’m positive Cam isn’t hurting for money, he could pay this off with his many endorsement deals. Money comes and goes, winning a Super Bowl is forever.