As it stands, the team already has the best-paid roster, with a total $202.1 million cap. This amount has cost them $170.2 million in luxury tax, also the biggest number among all the NBA franchises.
How much tax is Golden State paying?
Golden State’s luxury tax bill as it stands right now is $147 million, according to ESPN’s Bobby Marks. To put that total in perspective, it helps to know that it’s: $88 million greater than the Brooklyn Nets’ ($59 million) Nearly $36 million more than the rest of the top 10
How much is Warriors payroll?
Warriors 2023-24 Salaries
Poole is only set to make $3.9 million in 2022-23 with the guard’s extension not kicking in until next year, but the Warriors already have the highest payroll in the NBA with a $202.1 million total cap, per Spotrac.
How much profit do the Warriors make?
Warriors: Revenue: $258M. Operating Income: $44M.
Who pays the most luxury tax in the NBA?
Warriors
Warriors 2022-23 Luxury Tax Payment: $170 million
The Warriors, specifically, are no strangers to the luxury tax system. After racking up an NBA-record $170.3 million tax bill last season on their way to their fourth championship in the last eight years, the Warriors are now at a league-high $170.2 million tax bill.
What are the 5 highest taxed states?
The top 10 highest income tax states (or legal jurisdictions) for 2021 are:
- California 13.3%
- Hawaii 11%
- New Jersey 10.75%
- Oregon 9.9%
- Minnesota 9.85%
- District of Columbia 8.95%
- New York 8.82%
- Vermont 8.75%
Where does the luxury tax Go NBA?
The luxury tax money, which is the penalty for illegally exceeding the salary cap, is collected by the NBA and then re-distributed equally among teams that did not pay luxury tax.
What NBA team has the biggest payroll?
NBA Salaries
| Team | 2023/24 | |
|---|---|---|
| 1. | Golden State | $193,039,577 |
| 2. | LA Clippers | $193,412,405 |
| 3. | Brooklyn | $137,214,505 |
| 4. | Milwaukee | $159,879,413 |
How much is a NBA 10 day salary?
10-day contracts in the NBA last exactly for 10 days. These contracts are valued from $50,000 to $130,000 depending on the experience and playing years in the NBA. Sometimes players are signed for three matches as well. After a 10-day contract expires, teams must either keep a player in a squad or release him.
Can the Warriors afford their team?
Warriors already had the NBA’s most expensive team, but keeping it together could cost over $500 million. The 2021-22 Golden State Warriors weren’t just the most expensive team in NBA history last season.
How much is Steve Kerr salary?
Steve Kerr, Golden State Warriors: $9.5 million
Kerr has also been cementing his legacy as a coach in the NBA following his successful playing career.
How rich are the Warriors owners?
According to Forbes, Lacob’s net worth as of May 30, 2022 is $1.5 billion. Lacob made the majority of his money from working at venture capital firm Kleiner Perkins. He started working for the firm in 1987 and was eventually made partner.
Which NBA team has no luxury tax?
There are two teams in NBA history that have never paid the luxury tax. Both either were or are called the Hornets. The professional basketball franchises in New Orleans and Charlotte are the only ones with that distinction.
Is there a limit to NBA luxury tax?
A real-time look at the 2022 tax totals for each NBA team. The current Luxury Tax Threshold is $150,267,000.
Are Warriors over the salary cap?
These contract extensions have led to the Warriors exceeding their $123 million salary cap. They’ve not just hit the salary cap but have crossed it as they look to win a back-to-back championship.
What is tax friendliest state?
Seven states do not collect tax on personal income, and Tennessee is poised to join the list:
- Alaska.
- Wyoming.
- South Dakota.
- Florida.
- Texas.
- Nevada.
- Washington.
What are the worst tax states?
Taxes by State
| Overall Rank (1=Lowest) | State | % Difference Between State & U.S. Avg.** |
|---|---|---|
| 1 | Alaska | -45.91% |
| 2 | Delaware | -42.18% |
| 3 | Montana | -34.19% |
| 4 | Nevada | -26.49% |
Who pays the most taxes in America?
Key Takeaways. The top one percent paid the most in federal income taxes in 2019. Your overall tax rate won’t go up if your salary goes up, since higher tax rates only affect part of your income. The United States tax system is progressive, which means that those who earn more money pay a higher percentage in taxes.
What is Lakers luxury tax?
Los Angeles Lakers
Petre Thomas-USA TODAY Sports. 2022-23 Payroll: $166.1 million. 2022-23 Luxury Tax Payment: $32.2 million. 2022-23 Combined Payroll and Luxury Tax Payment: $198.3 million. The Lakers went rather deep into the luxury tax last season when they acquired Russell Westbrook.
Do the Lakers pay a luxury tax?
If you aren’t willing to pay the luxury tax don’t own an NBA team. Last season, seven teams paid the luxury tax– the Brooklyn Nets, Golden State Warriors, Los Angeles Clippers, Los Angeles Lakers, Milwaukee Bucks, Philadelphia 76ers, and Utah Jazz.
Why do NBA teams pay luxury tax?
The tax, colloquially named the “luxury tax”, serves as an extra charge for teams that spend more on their payroll, and redistributes the excess to the teams that pay less, in a bid to curb excessive spending and ensure that money is distributed appropriately between players and owners.