See more of our coverage in your search results.
Myles Garrett wanted a Super Bowl shot, and he will now be forced to sacrifice a small fortune to do so.
Thenewly acquired Los Angeles Rams starfinally joined the contender he was chasing afterwaiving his no-trade clauseand leaving the Cleveland Browns in a blockbuster deal. But while Garrett is gaining championship odds, he’s also getting an unwelcome introduction to California’s tax code.
Garrett could lose nearly $3 million in additional state taxes after moving from Ohio to California, according toNBC Sports.
That’s because Ohio’s top state income tax rate sits at roughly 3.1%, while California’s notorious top rate reaches 13.3%; the highest in the nation. The difference becomes especially painful when applied to Garrett’s massive $29.2 million option bonus, which is now due shortly before the start of the regular season.
In total, the Rams star could end up paying roughly $23 million in California state taxes compared to just $5.6 million over the remainder of his$179 million contract. That’s on top of the nearly $3 million hit tied to his delayed option bonus, making his move to the Rams a championship chase that could ultimately cost him more than $18 million before all is said and done.
And this is before a possiblecontract renegotiation, which could reset the edge rusher market. Texans defensive end Will Anderson is currently the top paid player at the position, making an average of $50 million per year.
Of course, Garrett knew what he was signing up for.
The 30-year-old made it clear during his introductory Rams press conference that winning was the priority.
“Since the very beginning, it’s always been about winning,” Garrett said. “To have an opportunity to do that immediately … it was an opportunity that was too difficult to pass up.”
Source: California Post – Breaking California News, Photos & Videos
