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No State Income Tax Makes Texas a Great Home for Free Agents

| July 08, 2013
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Salary, team chemistry, and venue are common considerations any professional athlete studies upon choosing a new home, but did you know taxes are also beginning to play a role in the process? Recently, free agent Dwight Howard, of the Los Angeles Lakers, turned down offers from both his current team and the Golden State Warriors from Oakland, CA. While there is still no official word on why he chose to decline the offers, some experts believe high taxes may have been a deterrent. Since California is such a high-tax state, Texas without a state income tax could look a lot more appealing to Howard's net take home and bottom line.

Of course this trend is nothing new in the community of the wealthy and the world of professional athletes, in particular. Professional golfers Tiger Woods and Phil Mickelson have said that, because of taxes, they would skip tournaments in California, and "Fastest Man in the World" Usain Bolt decided he would no longer race in the United Kingdom because of the high tax rates. Woods has even taken it a step further by moving out of California to Florida where his tax burden would be severely lessened.

With the major corporations moving into Texas due to the favorable tax system we have here, one has to wonder when top level free agents will start flocking to Texas accordingly.

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