College football stars will have to pay taxes just like the rest of us in Mississippi.
The Senate Finance Committee tabled HB# 4014 this afternoon in a discussion that lasted less than two minutes. The bill exempts NIL compensation for college athletes from state income tax.
Senator Deak Kirby (R- Gold Coast) said he received calls from constituents who "are not happy with the bill." Mr. Kirby said he was sure his colleagues received the same comments from their voters. The State Senator immediately moved to table the bill. His motion passed unanimously.
State Representatives Fred Shanks ( R - Gold Coast ) and Jonathon McMillan (R - Deviney Construction) sponsored HB# 4014. Section 4 of the bill states:
The words "gross income" do not include the following items of income which shall be exempt from taxation under this article:(ss) Amounts received as NIL compensation. For the purposes of this paragraph (ss):(i) "Intercollegiate athlete" means an individual who enrolls in and participates in an intercollegiate athletics program at a postsecondary educational institution located in Mississippi.(ii) "NIL compensation" means any money, goods, or services provided to an intercollegiate athlete, while enrolled at a postsecondary educational institution located in Mississippi, in exchange for the use of the athlete's name, image, or likeness, including revenue-sharing or name, image, and likeness payments from a postsecondary educational institution or a third-party.
The bill passed the House 76-32.
Note: Start the video at 36:00.
13 comments:
Good. The bill deserved to fail. Giving tax exemptions to NIL money while teachers, nurses, cops, and everybody else still pays income tax was always bad policy and worse optics. Politicians love to talk about “everyone paying their fair share,” but suddenly that principle disappears when football boosters and recruiting gimmicks get involved. Mississippi taxpayers shouldn’t be subsidizing tax-free NIL deals just so a few schools can gain a recruiting edge. If the Legislature wants to talk about tax relief, start with the working people of this state—not a handful of college athletes cashing endorsement checks.
McMillian is a yes man shiller for the Speaker. Wonder who Jason White knows who gets NIL dollars?? He was smart enough NOT to offer this bill; Jonathan wasn't!! This, after his school choice vote will make McMillian a one-term Rep!!
Well said.
Are they not happy because they'd have to pay tax? Well pound sand is what I'd say.
This bill was only to create noise and distraction! Helen Keller could see that! 😎 Let’s create an issue and then after the noise, we’ll kill it and look like heroes!
"Let's run it up the flagpole and see who salutes." Now Ole Miss and MSU know what the support looks like just in case it's needed in the future. It's tough but possible.
It’s scary that this bill passed the House. IDIOTS.
McMillian, like most of the redneck yeehaws in the House GOP, are just JWhite/donor yes men. They don’t actually think for themselves or their constituents.
Anti-NIL bills at the high school level are needed to push the black market out of youth sports.
That this was even considered tells us taxpayers a lot about what is on the minds of many legislators.
Congrats State and Ole Miss fans - you’ll continue to lose high level football recruits to TN and FL and TX schools that do not have an income tax. Those same folks hollering to their legislators about how unfair this bill was will be the first ones calling for Lebby’s head this Fall.
Hey 10:10, you are so right. Was this bill fair? No. Is college athletics fair to non athletes? Probably not. Now the universities in MS are less competitive NIL wise as compared to the schools in TN, FL, and TX. So if you were against this bill, and like college athletics, don't complain when your coach loses a player to a school from those states. Perception is reality in recruiting.
Mississippi State football will never be successful and that’s why it’s frustrating seeing the rest of us expected to subsidize it. This bill was born from a loser’s mentality syndrome, not unlike TDS.
Post a Comment