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Kobe receives 24 million today in a lump sum


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#1 RayRay

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Posted November 01, 2013 - 11:27 AM

Los Angeles Lakers guard Kobe Bryant will receive more than $24 million Friday as an advance on this season's salary.

The amount represents 79.7 percent of the $30.5 million he is due to receive in compensation for the 2013-14 season.

While some players get paid every two weeks during the season, others get paid twice a month year round. A select few, including Bryant, receive lump-sum payments like the $24,363,044 he'll receive Friday.

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The league's old collective bargaining agreement provided that this up-front compensation could be up to 80 percent of the contract's annual worth. That type of payment plan was amended in the new CBA, but Bryant's deal was grandfathered in. Instead, the new CBA allows provisions to pay a player up to 25 percent up front. 

Bryant's total take home of the $24.3 million check is subject to heavy taxes, which could total as much as 55 percent of his salary. That would reduce his take-home pay to closer to $11 million, according to Robert Raiola, a certified public accountant who heads up the sports and entertainment group at FMRTL in Cranford, N.J.

In his tax bracket, Bryant is subject to paying a federal tax at the top rate of 39.6 percent, which would mean $9.6 million will be withheld and given to Uncle Sam. As a California resident, he's subject to paying an additional 13.3 percent, or $3.2 million, in state taxes. California has the highest state income tax in the United States. The Medicare tax and surcharge would reduce his total take to about $10.9 million, Raiola said.

Bryant will pay so-called "jock taxes" to states in which he plays on the road. But those payments will be credited toward his California income tax.

Bryant's salary this season is the second-largest single-season salary in NBA history behind the $33.1 million Michael Jordan made for the 1997-98 season.

Although Bryant is out indefinitely recovering from an Achilles tendon tear, his salary is fully guaranteed. The timetable for his return is unknown.

 

 

http://espn.go.com/l...illion-lump-sum

 

 

Kobe probably will only see about 11 million of it due to state taxes......DAYUM


only Kobe can stop Kobe.

#2 Windu

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Posted November 01, 2013 - 11:33 AM

My dude Ray...

 

http://lakernation.c...kers-on-friday/


Pau Gasol is GONE


#3 epicwolf

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Posted November 01, 2013 - 12:13 PM

California is so awesome. Always have a smile on my face when I look at my own paycheck and seeing half of the salary going to adding more toll roads that I dont even use and fixing roads that never need to be fix.


MDA is an offensive genius. I hope he sticks to his guns and keeps doing what he does best: Run and Gun. That's the only way to coach.


#4 Ham

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Posted November 01, 2013 - 02:42 PM

24 million in a day. and i'll be lucky to make 1 million throughout my lifetime.  :sorry:


Edited by Ham, November 01, 2013 - 02:42 PM.

Mike D'Antoni is GARBAGE.


#5 BasketballIQ

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Posted November 02, 2013 - 08:47 AM

California is so awesome. Always have a smile on my face when I look at my own paycheck and seeing half of the salary going to adding more toll roads that I dont even use and fixing roads that never need to be fix.


The ocean is a commodity. U can EASILY move to New Mexico or some loser state with nothing popping

#6 Clutch Factor

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Posted November 02, 2013 - 08:49 AM

24 million. 24 his jersey number. Oh Kobe ;)



#7 Ham

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Posted November 02, 2013 - 10:46 AM

California is so awesome. Always have a smile on my face when I look at my own paycheck and seeing half of the salary going to adding more toll roads that I dont even use and fixing roads that never need to be fix.

lol youre forgetting social security, and a bunch of other [expletive]. in he long and short run, those taxes are beneficial to economy.


Edited by Ham, November 02, 2013 - 10:46 AM.

Mike D'Antoni is GARBAGE.


#8 RayRay

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Posted November 04, 2013 - 08:49 AM

My dude Ray...

 

http://lakernation.c...kers-on-friday/

 

my bad bruh bruh


only Kobe can stop Kobe.




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