At this point, I think that is unlikely. The reason it works so well for pro-athletes is that they are paid on a game by game basis. Most NIL contracts are not written that way. It is more like how you or I might get paid if we worked for ACME company and traveled to different sites around the country. You still only pay taxes where you live. This is even true if you live in one state and work in another (which can be really good for people living in Washington and working on Oregon).
Was going to reply pretty much the same. Going back to Steph Curry as an example, while OR taxes him for each game he comes here to play the Trail Blazers, the state doesn't tax him on any of the money he makes from Under Armour for wearing their sneakers, or payment for any other product he hawks....NIL is pretty much the same thing as endorsement deals that pro athletes do.
Leads to the question, "will Oregon tax NIL income of players visiting to compete at college contests within Oregon?"
I asked the tax man about this... NIL dollars are taxed in a player's state of residency.
At this point, I think that is unlikely. The reason it works so well for pro-athletes is that they are paid on a game by game basis. Most NIL contracts are not written that way. It is more like how you or I might get paid if we worked for ACME company and traveled to different sites around the country. You still only pay taxes where you live. This is even true if you live in one state and work in another (which can be really good for people living in Washington and working on Oregon).
Was going to reply pretty much the same. Going back to Steph Curry as an example, while OR taxes him for each game he comes here to play the Trail Blazers, the state doesn't tax him on any of the money he makes from Under Armour for wearing their sneakers, or payment for any other product he hawks....NIL is pretty much the same thing as endorsement deals that pro athletes do.
Correct... endorsement contracts are taxed at the rate of your state of residency.