Jalen Ramsey just got traded to the Miami Dolphins and has already received a raise based on the state he will be playing in. Ramsey also will get an indirect raise by swapping California’s maximum individual tax rate of 13.3 percent for Florida’s zero point zero.
The Miami Dolphins are inheriting Jalen Ramsey’s lucrative contract, but the former Los Angeles Rams cornerback will keep a boatload of cash he would have lost to the government.
Over the next three seasons, Ramsey is expected to keep $7.3 million in taxes that would have been taken from him if he had stayed in California. He will save $2 million each year in taxes now that he will be playing in the Sunshine State.
Ramsey told his Twitter followers: “I prayed for this specifically for about a month & now it’s happening!”
After being drafted by the Jacksonville Jaguars, he experienced the opposite effect when he was traded from the Jacksonville Jaguars to the Rams in 2019.
California’s 13.3 percent tax rate is the highest of any state in the nation.
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Jordan Poyer even stated he “would love to go to a state that doesn’t take half my money.” He ultimately decided to re-sign with the Bills and have those same taxes taken out of his check.
Ramsey is currently due to make $17 million in 2023, $18.5 million in 2024, and $19.5 million in 2025.
