Kukla's Korner Hockey

Kukla's Korner Hockey

Something For Steven Stamkos To Consider

04/12/2016 at 9:20pm EDT

from Michael Traikos at the Toronto Sun,

According to sports tax guru Robert Raiola, even if Stamkos is paid $10 million per year he would actually take home less annually by playing in Toronto ($4.3 million after taxes and agent fees) than he would in Tampa Bay for only $8.5 million ($4.6 million).

“In order for Stamkos to go to Canada, they would have to pay him a lot more money than what he would have gotten to stay in Tampa Bay,” said Raiola, a senior manager at O’Connor Davies LLP, who has professional sports clients throughout the country. “Do I think it factors into free agency? Absolutely. I think in any sport where you have a cap, the teams that don’t have a state tax have a huge advantage.”

It does not get any easier if Stamkos were to sign in Montreal, where the combined statutory marginal income tax rate is 53.31%, or Winnipeg (50.4%), Calgary or Edmonton (48%) or Vancouver (47.7%). In fact, Ontario and Quebec have a higher tax rate than any state in the U.S., while Manitoba, Alberta and B.C. also rank among the top 10 of states/provinces with an NHL team.

It is just one of the many reasons Canadian teams not only have a harder time attracting top-end free agents, but also signing them at market value.

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Paul Kukla founded Kukla’s Korner in 2005 and the site has since become the must-read site on the ‘net for all the latest happenings around the NHL.

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