NIl and Taxes
- Thread starter goldclub
- Start date
Its income, like any other other income.
What tax code? The state and federal Govt tax code.
Got to help fund 435 agencies and sub agencies that run over 2200 federal giveaway programs.....that apparently are administered from the bathtubs of WDC suburbs...at a salary over $71,500 higher than the average salary in Indiana. LOL
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Does their scholarship value and perks now considered to be Taxable income?
That's a great question. But without looking scholarships not taxable.
Wether that changes in the long term future as the Govt looks at with revenue sharing with their usual greed, remains to be seen, but right now No not taxable.
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It will be interesting to watch. We had previously talked about just giving a player NIL. Money instead of a scholarship. In that manner, a walk on could basically receive the same amount as a scholarship player. This was discussed as a loop hole walk around to get around the scholarship limits.
But now, NIL. Is taxable and scholarships are not.
It does make sense that it is taxed. A lot of the players making $millions from NIL are basically advertising for their respective benefactor. Nike is paying that player over $4 million in nil. That’s basically the same as a shoe contract.
But now, NIL. Is taxable and scholarships are not.
It does make sense that it is taxed. A lot of the players making $millions from NIL are basically advertising for their respective benefactor. Nike is paying that player over $4 million in nil. That’s basically the same as a shoe contract.
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