DraftKings, Flutter Shares Tumble on Illinois Sports Betting Tax Hike
A budget agreement that will nearly triple the tax on some sports bets in Illinois roiled shares of the major sports books operating in the state, sending shares of…
taxes
How American Taxpayers Support Sports Teams and Athletes
The average American taxpayer may not realize it, but their dollars go toward funding the sports teams owned by billionaires. Taxpayer support of sports “is a…
Mark Cuban ‘Proud’ to Pay $288M—Wait, $275.9M—Tax Bill
Billionaire Mark Cuban paid a $275 million federal income tax bill Monday, with the former Internet pioneer and Mavericks co-owner saying on social media site X Sunday…
California Asks Congress to Help Tax Shohei Ohtani
Shohei Ohtani’s record-breaking $700 million, 10-year contract with the Los Angeles Dodgers sent shockwaves through Major League Baseball. It could do the same in…
Yamamoto to Owe More Tax Money Than Ohtani
Although Yoshinobu Yamamoto will earn about $375 million less than his countryman and new MLB teammate, Shohei Ohtani, in his reported 12-year, $325 million contract…
Best Of 2023
Ex-Grizzlies Owners Lose $10.7M Tax Claim From Mike Conley Play
The former owners of the Memphis Grizzlies have come up short again in their attempt to claim a $10.7 million tax deduction for deferred compensation owed to Mike Conley…
SCOTUS Takes on Foreign Investment Tax Threatening Owners, Athletes
The U.S. Supreme Court recently agreed to hear Moore v. United Sates, a case about whether the IRS can lawfully tax an American couple that invested in a rural farming…
Wembanyama Could Save Millions in Taxes by Moving to Texas
Victor Wembanyama is set to be drafted first overall by the San Antonio Spurs in the 2023 NBA Draft on June 22. How quickly he moves to Texas could make a big…
Celtics’ Tatum, Brown Face Supertax With Potential Supermax Deals
At this moment, Jayson Tatum and Jaylen Brown are likely focused on how their Boston Celtics can defeat the Philadelphia Sixers in Game 7 of the Eastern Conference…
No. 1 Pick Bryce Young Drops to Second in NFL Draft Tax Derby
In the NFL draft, nothing is more prestigious than being picked first overall. Bryce Young, selected first overall by the Carolina Panthers on Thursday, has many…
Red Sox Delay on Devers Signing Costs Him $760,000 In New State Tax
Red Sox fans may finally be heartened their team has secured homegrown star Rafael Devers with a contract extension reported to be worth $331 million, including a $20…
Tax Deduction That Aided Team Buyers and Spurred Values Fades Out
The tax man is, very slowly, making it slightly less attractive to buy a team. For the past five years, the ultrawealthy buyers of sports franchises have taken…
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