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 More General NewsGeneral LinksNumerous baseball agents are already thinking about trying to beat a possible tax increase for their clients under an Obama administration. President-elect Barack Obama has proposed increasing the top federal income tax rate from 35 percent to 39.6 percent, which would affect most, if not all, major leaguers. If signing bonuses are paid before the first of the year, they likely would be taxed at the current rate and would not be subject to any increase. "It's something we'll consider," agent Craig Landis said Tuesday. "Besides the federal issue, we have a state issue in some cases, anyway, where it's advantageous to take signing bonuses because of the state income tax. A Florida resident can take the signing bonus and not have to pay his team's state tax." |
