What was the tax in 2011?
2011 Tax Brackets and Rates
| Single | Married Filing Jointly | |
|---|---|---|
| 10% | $0 to $8,500 | $0 to $17,000 |
| 15% | $8,501 to $34,500 | $17,001 to $69,000 |
| 25% | $34,501 to $83,600 | $69,001 to $139,350 |
| 28% | $83,601 to $174,400 | $139,351 to $212,300 |
What is the tax rate for NBA players?
In the beginning of each season, 10% of the player’s gross income is held in escrow. Escrow is then given back to the players as long as the owners pay the players an agreed upon percentage of Basketball Related Income. City/State taxes play such a large part in determining the players take home pay.
How much do athletes get taxed in Canada?
15%
As a compliance mechanism, anyone who pays the athlete for the performance in Canada must withhold 15% of the athlete’s payment. This applies regardless of whether the payor is a Canadian tax resident, but it does not apply when the payment relates to employment income.
What was the VAT rate in 2010?
17.5%
The default VAT rate is the standard rate, 20% since 4 January 2011….Historical rates.
| From | To | Standard rate |
|---|---|---|
| 1 December 2008 | 31 December 2009 | 15.0% |
| 1 January 2010 | 3 January 2011 | 17.5% |
| 4 January 2011 | Present | 20.0% |
How is the NBA luxury tax calculated?
The NBA’s luxury tax system is set up so that the penalties become more punitive if teams go further beyond the tax line. Here’s what those penalties look like: $0-5MM above tax line: $1.50 per dollar (up to $7.5MM). $5-10MM above tax line: $1.75 per dollar (up to $8.75MM).
Do foreign NBA players pay taxes?
If you are a foreign athlete and/or entertainer performing independent personal services in the United States, you must generally pay U.S. income tax on your U.S. source income.
Do Toronto Raptors get paid in Canadian dollars?
Raptors players are paid in American currency, which means as the Canadian dollar drops, their paycheque goes a lot further.
Does tax money go to athletes?
A visiting team of professional athletes can mean many thousands of dollars in state tax revenue for every day they spend in-state. In a normal season, an average National Football League player will file between eight to 12 non-resident state tax returns, said Losi.
What was the VAT rate in 2001?
VAT RATES TABLE
| 1992-93 | 2001-02 | |
|---|---|---|
| Standard Rate | 17.50% | 17.50% |
| Higher rate | ======= | ======= |
| Domestic heating rate | 0.00% | 5% |
| Extended to: |
What was VAT 2013?
20%
VAT Rates 2013/14
| From 1 April 2013 | |
|---|---|
| Standard rate | 20% |
| Standard rate VAT fraction | 1/6 |
| Reduced rate | 5% |
| Reduced rate VAT fraction | 1/21 |