Josh Allen is on one of the most lucrative contracts in sports history.
While he’s already beloved in New York for what he’s doing with the Buffalo Bills, it turns out he’s also great for their economy given the wild sum he’s set to pay in taxes over the length of his stint.
The quarterback signed a six-year deal to the tune of $258 with the Bills last August, so he’s come into a whole lot of money. However, he’s giving lots of it back in taxes.
Twitter user Andrew Petcash broke what the QB is supposed to fork out to the government for the year and, based on that, it appears he will only be taking home a net income of $21.3M, less than half of what he’s set to be paid.
Allen is required to hand over $15.86 million in federal tax, $3.16 million in New York State tax, $1.02 million in federal payroll tax, and $378,000 in Jock Tax, while $1.3 million goes to his agent.
New York State has some of the highest tax rates in the country, which is why some NFL players avoid Buffalo.
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As it happens, Allen is a pretty shrewd investor and also has some more millions coming in through endorsement deals. So it’s really not all that bad.
