NIL and the transfer portal is the name of the game these days in college football and college basketball, and with players making high six and seven figures, suddenly, understanding tax rates is really important. And on Saturday, some Big 12 teams were having fun discussing their state’s tax rates.
It started with UCF on Saturday morning.
And then, the Houston Cougars got in the mix, as the state of Texas also has a 0% income tax rate.
The Big 12 is conveniently located in some of the most tax-friendly states in the country, with multiple states having 0% state income tax. Here’s a look at where each of the Big 12 states stand on income tax rates.
Big 12 States Income Tax Rates
- Texas: 0%
- Florida: 0%
- Arizona: 2.5%
- Ohio: 3.125%
- Colorado: 4.4%
- Utah: 4.5%
- Oklahoma: 4.75%
- West Virginia: 4.82%
- Kansas 5.58%
Needless to say, the Big 12 has some of the more favorable rates from various states around the Heartland, but Texas and Florida lead the way. And when you’re talking about players making upwards of seven figures for one year, the difference between picking one school over the other can be worth tens of thousands of dollars.
Oh, and the trend even continued with teams outside of the Big 12, as the UNLV Rebels got in the mix, as Nevada also has a 0% state income tax rate.
So, as the new world order in college football is all about the bag, there’s no doubt that these things will matter more as the bags increase in size. Needless to say, teams like USC, UCLA, Stanford, along with St. John’s basketball, are going to find themselves having to make up for their state’s high tax rates.
Luckily, those high rates don’t impact any Big 12 states, although Kansas could work on its income tax rate. As a resident myself, just sayin’.
