The NFL draft occurred yesterday with two quarterback positions filled first.
Those two young men are probably thrilled, but I have no doubt they were far more excited about the Ohio Supreme Court's ruling that occurred the same day striking down Cleveland's "jock tax." Apparently professional athletes must pay tax in the jurisdiction where it is earned, and athletes play in any number of cities over the course of the season. The way Cleveland has been calculating tax on athlete income earned in Cleveland is apparently disproportionate to the way other cities calculate that tax.
To build your tax expertise, especially if you are considering a career as a business or tax attorney for athletes, consider registering for Professor Susan Azyndar's Business and Tax Legal Research class next spring!
Those two young men are probably thrilled, but I have no doubt they were far more excited about the Ohio Supreme Court's ruling that occurred the same day striking down Cleveland's "jock tax." Apparently professional athletes must pay tax in the jurisdiction where it is earned, and athletes play in any number of cities over the course of the season. The way Cleveland has been calculating tax on athlete income earned in Cleveland is apparently disproportionate to the way other cities calculate that tax.
To build your tax expertise, especially if you are considering a career as a business or tax attorney for athletes, consider registering for Professor Susan Azyndar's Business and Tax Legal Research class next spring!