luxury tax penalties

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With Dwight Howard in tow, the Lakers are facing a huge luxury tax hit
Aug 14, 2012 . There's a general tendency to think of the luxury tax as a penalty, and it is in the sense that anything past a future salary threshold has a .

Salary Cap, Luxury Tax Levels Set For 2012-2013 NBA Season ...
Jul 10, 2012 . The luxury tax penalty is weighted based on how much you go over it. i think it might also get much higher once the new collective bargaining .

Jeremy Lin would cost Knicks $43 million in salary and luxury tax in ...
Jul 15, 2012 . But, if the Knicks found themselves paying hefty luxury tax penalties, is it ridiculous to think that could have an adverse effect the company's .

No Way the Knicks Match Landry's Offer Sheet, Right? | Analysis for ...
Jul 12, 2012 . He is going to be paid twice as much as I thought he was worth and the new luxury tax penalties make the deal even more unappealing (see .


Luxury tax (sports) - Wikipedia, the free encyclopedia
The resulting total is then distributed to the remaining teams that are under the tax threshold. However, the luxury tax penalty is only applied if the league .

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Jerry Buss, Lakers Face Heavy Luxury Tax Penalties, But It's All ...
Aug 22, 2012 . An article explaining the harsh luxury taxes the Lakers face, but also an article explaining the brilliance of Dr. Jerry Buss and his desire to win.

What is the luxury tax?
Teams can spend above the cap without penalty - up to a certain point. But once a team's payroll hits the luxury tax threshold, the franchise faces additional .

NBA Salary Cap FAQ
Where does the escrow and luxury tax money go? Other than financial penalties, are there restrictions on taxpaying teams? How does revenue sharing work?

How Could the Knicks Lose Jeremy Lin? -
Jul 17, 2012 . Under the N.B.A.'s new luxury tax system, the penalties climb for every $5 million increment over the tax threshold (which is currently $70 .

Which NBA teams have paid the most in luxury taxes, since the tax ...
Jul 26, 2012 . The Knicks paid over $45 million in luxury tax penalties the year this picture was taken (Getty Images). The idea of a luxury tax to rein in .

Salary cap - Wikipedia, the free encyclopedia
Typically these penalties are financial in nature; the luxury tax is a common penalty used by leagues. A salary floor is a minimum amount that must be spent on .

It's CompLINcated: The Continuing Saga of the Rockets' Pursuit of ...
Jul 16, 2012. given the Knicks sizable contracts due that season, could cost New York as much as $60 million in luxury tax penalties. Yet, for the Rockets, .

Luxury Tax - Boston Celtics Blog - ESPN Boston
Jul 28, 2012 . For a team that's paid $44.5 million in luxury-tax penalties over the past five seasons, that's a nice break. Boston paid a whopping $14.9 million .

Knicks Jeremy Lin Luxury Tax Penalty Could Hit $68 Million ...
Jul 16, 2012 . Here's the popular explanation for why the Knicks are (maybe) going to let Jeremy Lin go: the luxury tax bill in the third year of Lin's deal would .

Lakers face day of reckoning with NBA luxury tax -
3 days ago . This is the last season the Lakers will pay a dollar-for-dollar penalty for exceeding the luxury-tax threshold, meaning that their league-high .,0,6834158.story

Source Howard Could Cost Prokhorov $1075M In Luxury Tax ...
Source: Howard Could Cost Prokhorov $107.5M In Luxury Tax Penalties. Jul 06, 2012 10:31 AM EDT. If the Nets deal for Dwight Howard, Mikhail Prokhorov will .$1075M_In_Luxury_Tax_Penalties

Dumb Move, Dolan - Grantland
Jul 17, 2012. million in salary plus roughly $28 million in luxury tax) does not spell . thus letting the team avoid the luxury tax's progressive penalties.

Nets, Prokhorov To Pay $143 Million In Luxury Tax After Dwight ...
Jul 3, 2012 . An eye-popping penalty for the Russian oligarch. . The only issue: Prokhorov is going to have to go deep into luxury tax territory over the next .

NBA Labor Deal: The New Luxury Tax Could Limit Big Spenders ...
Nov 28, 2011 . Under the previous CBA, there was a dollar for dollar penalty for team salaries that exceeded the luxury tax threshold of $70.3 million.

The NBA Geek - NBA Articles
Jul 17, 2012 . If, for argument's sake, the Knicks payroll was equal to the luxury tax . they would owe $41.75 million in luxury tax penalties, and when you .

NBA salary cap remains at $58 million - Yahoo! Sports
Jul 10, 2012 . The luxury tax level is also unchanged from last season, remaining at $70.307 million. Any team . Where does this luxury tax penalties go?

Mark Cuban keeping Mavs' options open - Dallas Mavericks Blog ...
Jul 26, 2012. that the new fang-bearing CBA, with its harsher luxury tax penalties, scared the . In actuality, Cuban doesn't fear the larger luxury tax hammer the CBA . as much as the roster handcuffs it will slap on luxury tax offenders.

How the NBA's new luxury tax rules impact the Dallas Mavericks ...
Nov 28, 2011 . While James Dolan's luxury tax spending in the mid-2000s would put any other . The actual dollar-for-dollar tax penalties of a new collective .

Mavs step down as West's luxury tax kings - Dallas Mavericks Blog ...
Jul 27, 2012 . Taking on luxury tax starting with the 2013-14 season will result in stiffer tax penalties and will also significantly restricts how a team can alter its .

NBA teams put in stiff luxury tax penalties… which luxury-tax payers ...
Nov 6, 2011 . Wait, what? From Ken Berger of The luxury-tax “cliff” experienced by tax teams, by which they felt the full brunt of going slightly .

Spurs Nation » Duncan's salary cut provides tax relief
Jul 25, 2012 . Tim Duncan's $11.5 million pay cut allowed the Spurs to sign free agents and avoid the NBA's luxury tax penalty. (Edward A. Ornelas .

Luxury Tax Contests -
Aug 20, 2012 . There is no set salary cap, but teams that pass a certain dollar threshold have to pay a luxury tax penalty. In the real world, the penalty is paid in .

Knicks Now Seem Set on Letting Lin Go -
Jul 17, 2012. contains a third-year balloon payment of $14.9 million, which would have cost the Knicks another $35 million or more in luxury-tax penalties.

Luxury Tax Thread
Would be nice to get as many posts from GM's as possible so CP3 has something to go off of if he decides to implement a tax penalty.

Knicks Have Paid More Luxury Tax Than Any Other Team | Daily ...
Jul 26, 2012 . Although the franchise did pay the tax in years prior, Thomas essentially put the Knicks there for good. The luxury tax penalty was instituted in .

Yankees aim to trim payroll by 2014 to escape luxury penalties ...
Dec 5, 2011 . Yankees aim to trim payroll by 2014 to escape luxury penalties . Keep in mind that since the luxury tax went to 40 percent for them in 2005, the .

Atlanta Hawks Have Paid Luxury Tax Once - SB Nation Atlanta
Jul 26, 2012 . In a fascinating spreadsheet compiled by Mark Deeks of ShamSports that looks at the history of the luxury tax, the Hawks name appears only .

Bad Planning Costs The Knicks | Hoops Addict
Jul 18, 2012 . What we do know is the contract Carmelo Anthony termed “ridiculous” became all the more absurd when you consider the luxury tax penalties .

NBA Luxury Tax | Ted's Take
Jul 29, 2012 . Here is a good overview piece of the NBA luxury tax. In the new CBA, the luxury tax steps up dramatically in terms of penalties in the next few .

Knicks soap opera continues with Lin contract talks, Kidd's DWI ...
Jul 16, 2012 . If the Knicks were to match the Rockets' poison-pill offer sheet, under the new CBA's vicious luxury-tax penalties, owner James Dolan could pay .

Luxury Tax | Ted's Take
Jul 29, 2012 . Here is a good overview piece of the NBA luxury tax. In the new CBA, the luxury tax steps up dramatically in terms of penalties in the next few .

NBA Draft 2012: The Miami Heat, Salary Cap Penalties And The ...
Jun 19, 2012 . The word 'punitive' gets tossed around quite a bit when considering the new luxury tax penalties in the NBA. Again, a perception tough to deny, .

Luxury Tax Thread - Page 3
Basically, if the luxury tax didn't come into play until 2005, then we shouldn't penalize teams until then. And the penalty should be based on .

The Karnataka Luxury Tax Act |
The Karnataka Luxury Tax Act. Karnataka is a state located in south west . by the state tax office, the tax commissioner can impose a penalty, along with the tax .

When accounting for Steve Nash / Dwight Howard signings and - Fark
Aug 14, 2012. accounting for Steve Nash / Dwight Howard signings and existing player contracts, Lakers on the hook for massive NBA "luxury tax" penalties .$240-million

Jul 17, 2012. to lose their love for Lin, but luxury taxes simply cannot be ignored. . New York , who has grown accustomed to large luxury tax penalties.

What did the lockout accomplish? - Page 2 - ClutchFans
For a great example of luxury tax penalty salary management, look no further than last season's Chicago Bulls. Now, they didn't match Asik.

Knicks Could Avoid Luxury Tax From Jeremy Lin With Stretch ...
Jul 17, 2012 . As we spelled out at length yesterday, the Knicks could face a luxury tax penalty of up to $68 million in 2014-15 if they resigned Jeremy Lin.

I seriously doubt that the Washington Wizards would - Bullets Forever
Jul 30, 2012 . Getting $10 million in luxury tax penalties because we traded Okafor and/or Ariza's expirings and/or Booker/Vesely and/or draft picks for an .

Why Knicks decided more Linsanity would've been insanity ...
Jul 26, 2012 . With harsher luxury tax penalties in the new collective bargaining agreement, the Knicks were facing the potential of paying as much as $40 .

SLAM ONLINE | » The Los Angeles Lakers' Tax Bill Could Reach ...
2 days ago . This is the last season the Lakers will pay a dollar-for-dollar penalty for exceeding the luxury-tax threshold, meaning that their league-high .

Brooklyn Nets owner Mikhail Prokhorov opens up about rap, Jay Z ...
6 days ago . Prokhorov has estimated the franchise will be worth $1 billion in 2015 (even though he'll likely be faced with stiff luxury tax penalties, .

[New CBA] How the Luxury Tax will affect teams - ClutchFans
Next up is to understand why the game changes substantially in the 2013-2014. That's when the new luxury tax penalties, and the repeater tax .

OFF THE DRIBBLE - So How Did This Happen to New York ...
Jul 18, 2012 . Under the N.B.A.'s new luxury tax system, the penalties climb for every $5 million increment over the tax threshold (which is currently $70 .

RealGM Blog: More Fans More Money More Resources (Even ...
Jul 5, 2012. which is why both franchises have been willing to open their wallet this offseason, despite the hefty new luxury tax penalties in the new CBA.

Pistons and the luxury tax... - Detroit Pistons - The Detroit News
Jul 26, 2012 . While the Pistons are close to the luxury tax this season ($67.2 million in . a comprehensive chart of every team's year-by-year tax penalties, .

Most Hilarious Quotes About Money's NBA writers discuss Jeremy Lin's future - NBA -
Jul 16, 2012. could cost the team an extra $35 million to $45 million in luxury-tax . for the luxury tax and could still avoid the dreaded repeater penalty by .

Frequently Asked Questions About the Baseball Labor Negotiations
The luxury tax will be imposed on the portion of payrolls over $178M in 2012 and . If a worldwide draft is not agreed by July 2014, the penalties will increase.

New Deal Era -
Jul 30, 2012 . With more punitive luxury tax penalties kicking in next summer, even big-market teams are more carefully eyeing the bottom line. The Bulls .

A Look Back at the Collective Bargaining Agreement - The Dream ...
Sep 3, 2012 . Management sought to correct the sins of overspending by imposing harsh luxury tax penalties on teams that still sought the New York .

Luxury tax proposal upsets gym, spa owners - NewsX - YouTube
5 days ago . Luxury tax proposal upsets gym, spa owners - NewsX . spas and banquet halls in Delhi could soon face a heavy penalty, running into lakhs, .

Ever Hear Of Stretch Provision In NBA's New CBA? How New York ...
Jul 17, 2012 . If the Knicks do match, they have options to avoid the financial penalties the luxury tax might impose on the franchise. It is simply another .

Bulls' hands tied in free agency - Collections - Chicago Tribune
Jun 30, 2012 . It's important to remember luxury-tax penalties aren't assessed unless a team is over the threshold at season's end. So the Bulls theoretically .

NBA Lockout Deal On Luxury Tax Would Boost Penalty For High ...
Oct 31, 2011 . The old system included just a dollar-for-dollar penalty over the luxury tax threshold, which proved to be a deterrent for only about half of the .

Luxury tax looms as big obstacle to deal | The Point Forward
Oct 27, 2011 . Even so, I feel comfortable saying this: The luxury tax is the biggest . to triple and quadruple tax penalties for teams that pay the tax more than .

If you're OKC,... |
Aug 18, 2012 . With luxury tax at roughly 70mil, and new CBA harsher tax penalty kick-in in 2013 -2014, you're looking for a 2.5-3.5 per dollar in tax penalty.

James Harden contract: Five scenarios Thunder ... - Sporting News
6 days ago. this might have been the most likely outcome, with the Thunder going into luxury-tax territory, paying a dollar-for-dollar penalty and unloading .

High Cheese
Jul 31, 2012 . Jonathan Papelbon - $13.0 million ($12.5 million against luxury tax . The penalty for a first-time offender like the Phillies would be under $3 .

AP sources: Timberwolves making run at Pau Gasol -
Jun 29, 2012 . The Minnesota Timberwolves are trying hard to land Pau Gasol. If they have to part with the highest draft choice in franchise history after just .

Lin - Featured Articles from CNN
Jul 17, 2012. Anthony called "ridiculous." It would cost his team tens of millions more in luxury-tax penalties were New York to match the Houston deal.

Warriors can't use full MLE due to luxury tax - Golden State Of Mind
Jul 2, 2012 . No one wants to pay the new luxury tax penalty unless you're a deep playoff team (make it up with playoff revenue). With the cap shrinking, .

The Taxes Americans Pay Each Year
Inventory tax IRS Interest Charges (tax on top of tax). IRS Penalties (tax on top of tax). Liquor Tax. Local Income Tax. Luxury Taxes. Marriage License Tax .

Breaking: Rockets Have a Monkey Wrench And They Just Used It ...
Jul 13, 2012 . Due to strict luxury tax penalties, matching Lin could cost approximately $42 million in the third year alone. No question the Knicks will match, .

Keeping Lin Should Make Financial Sense for the Knicks - Blogrunner
Jul 16, 2012 . As we spelled out at length yesterday, the Knicks could face a luxury tax penalty of up to $68 million in 2014-15 if they resigned Jeremy Lin.

Aug 23, 2012 . The team that spent the most in luxury tax penalties ever in one season? Nope not the Lakers, nor the Knicks, nor the Mavs. It was a team .

Jeremy Lin 'excited' to move from Knicks to Rockets | Inquirer Sports
Jul 18, 2012. million scheduled payment for the third year, which would have cost the Knicks a hefty sum in luxury-tax penalties on excessive salaries.

Tax penalty to hit nearly 6M uninsured people - Valley News Live ...
1 day ago. class - will have to pay a tax penalty for not getting health insurance once President... . Thief gets $10M in luxury goods from LA-area home .

Dwight Howard trade talks will come to a head Wednesday
Jul 11, 2012 . Four year deals are the norm, superstar extensions are practically obsolete, and the luxury tax penalties are stiff enough to make even Paul .

Business Taxes - 20/20 - The Tax Resolution Experts
A TFRP stands for Trust Fund Recovery Penalty and occurs when the IRS . This is because the teams could potentially face hefty luxury taxes with the all of the .

Can the Yankees afford to lose Nick Swisher? | Capital New York
Aug 27, 2012. get its current payroll, at $207.2 million in 2012, down to no more than $189 million by 2014, in order to avoid significant luxury tax penalties.

What is a poison pill contract?
Team X structures the contract offer to maximize the potential luxury tax penalties for Team Y if they choose to match, usually by back-loading the deal. The total .

Financial pressures emphasize L.A.'s small window - Los Angeles ...
2 days ago . "This is the last season the Lakers will pay a dollar-for-dollar penalty for exceeding the luxury-tax threshold, meaning that their league-high .

Jeremy Lin - The New York Times
Jul 18, 2012 . Burberry's caped crusader · Also in Fashion » · London fashion: Rethinking luxury · Sporty? It's the Olympics, stupid! · Fashion .

Will NBA Free Agency Be Strikingly Different in 2013? | Bleacher ...
Aug 3, 2012 . Starting this season, those penalties will stiffen. . With each increment of $5 million spent over the luxury tax, a team will see its per-dollar bill .

about the tax stamps that must be affixed to packages . 42-1124(D): Penalty providing for the forfeiture . Generally, the luxury privilege tax, three Tobacco .

The Celtics have paid to play - Boston Celtics Blog - ESPN Boston
Jul 28, 2012 . For a team that's paid $44.5 million in luxury-tax penalties over the past five seasons, that's a nice break. Boston paid a whopping $14.9 million .

Yanks, Red Sox only teams hit with luxury tax - ESPN
Dec 22, 2011 . The New York Yankees were hit with a $13.9 million luxury tax bill . $206 million of the $227 million raised under the penalty for high payrolls.

New NBA deal may curtail Lakers' free-spending ways - Los ...
Nov 27, 2011 . Luxury tax rules and penalties will be much more harsh under proposal to be voted on this week. The move is aimed squarely at teams such as .

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What are the Tax Penalties of Getting a 401K Loan? -
Many people worry about the tax penalties and implications associated with a 401k loan. . However, this type of loan does not enjoy that luxury. So you have to .

Report: Knicks Won't Resign Jeremy Lin - Business Insider
Jul 15, 2012 . $25 million and a bit more in luxury tax penalties seems like a small price to pay for a international marketing phenomenon. Refusing to keep .

Spurs Nation » Lakers aren't flinching with massive tax bill looming
2 days ago . “The prohibitive luxury tax makes it so only the super-rich are going to . that the Lakers aren't especially concerned about the new penalties.

Post-modern - Los Angeles Times
Aug 11, 2012 . The NBA installs a more punitive luxury tax penalty for teams over the $70-million threshold after next season, and the Lakers will have to shell .

How new NBA deal compares to last one - ESPN
Nov 28, 2011 . New labor deal could mean much heftier luxury taxes for big spenders . In addition to an incremental tax penalty, taxpaying teams now will .

Msg News, Video and Gossip - Deadspin
Aug 20, 2012. that Lin was some kind of bottomless ATM, whose monetary value to the Knicks would easily pay for his contract and any luxury tax penalties.

Mediocrity Coming to an NBA Team Near You
In fact, when the luxury tax penalty goes into effect in 2013, the Heat may be forced to trade one of their stars to get under the tax line and add rotation players.

Dolan Breaks Faith With Knicks Fans Again -
Jul 18, 2012 . With a gun to his head that was loaded with a potential $35 million luxury-tax penalty on top of a $14.9 million balloon payment in the third year .

Details of Rockets offer sheet to Jeremy Lin - Message Board ...
The Knicks are expected to be over the luxury-tax threshold for three straight . taxpayers will be subject to the harshest of luxury-tax penalties.

Jobless Johnny would be nice fit for Yanks - New York Daily News
Jan 17, 2012. of course, but it seems clear that Hal Steinbrenner is intent on lowering the payroll in the coming years to avoid severe luxury-tax penalties.

Articles about Luxury Tax - Baltimore Sun
Find breaking news, commentary, and archival information about Luxury Tax . a title means increased revenue sharing and stiffer luxury tax penalties will be in .

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Report: Knicks won't match Lin deal - Chicago Tribune
Jul 17, 2012. a payment of $14.9 million in the third year, which would have cost the Knicks another $35 million, perhaps more, in luxury-tax penalties.

NBA Lockout: Owners Move Away From Steeply Punitive Luxury Tax ...
Oct 28, 2011 . The league had been pushing for a graduated luxury tax in which the penalty increased as teams' payrolls got further from the salary cap.

Harper: If Yankees want Felix, timing would be perfect - Page 2 ...
Aug 16, 2012. then there is the question of the $189 million payroll limit that Hal Steinbrenner wants to enforce by 2014 to avoid severe luxury-tax penalties.

Jerry Reinsdorf | Chicago White Sox | MLB | Bleacher Report
Luxury-tax penalties ominously loom over the Chicago Bulls next season, but the Bulls can avoid cutting into their profits by readjusting their financial .

Top 10 NBA Teams with the Most Salary Cap Space ‹ The Richest ...
Jul 23, 2012 . But there are penalties when teams go beyond a specific amount. This is called the . Luxury tax can really kill the profits of an NBA team. Thus .

Howard finds his happy place with Lakers | howard, lakers, g ...
Aug 10, 2012 . They will endure the luxury-tax penalties until the summer of 2014, when Bryant and Gasol come off the books and the club plans to get under .

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The NBA soft cap and luxury tax
Its luxury tax system levies a dollar-for-dollar charge for any amount that . Moreover, the tax penalties could also be graded based on how much teams have .

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Jeremy Lin becomes a Houston Rocket again |
Jul 18, 2012 . would have cause havok to the Knicks salary cap in the third year causing $35 million or more in luxury tax penalties. In addition, the Knicks .

James Harden says he's open to signing with the Phoenix Suns ...
Jul 27, 2012. the team has a window of opportunity to extend Harden and Serge Ibaka, but league salary-cap restrictions and harsh luxury-tax penalties .

Golliver: The cost of a test year for Brandon Roy
Nov 28, 2011 . But consider this: the new Collective Bargaining Agreement includes a much harsher luxury tax system that has escalating penalties for teams .

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