Josi has a big advantage: our NHL stars deduct so many tax millions

Stephen RothDeputy Head of Ice Hockey

The stars in the NHL are paid well. The average income of an NHL player has increased to $3.98 million. Timo Meier, number 8, also has a Swiss in the top 10 top earners this season. His new eight-year contract with the New Jersey Devils for a total of €70.4 million will earn him €12 million this season, half of which will come from a portion of his signing bonus.

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Now it is not the case that the 27-year-old from Appenzeller could keep the entire amount for himself. His tax rate is 49.05 percent. 39.11 percent goes to the state and 9.88 percent to the home state of New Jersey. In addition, there is the ‘jock tax’ that players of American teams have to pay every time they play in an American city. If Meier plays with the Devils in Philadelphia on Wednesday, he will be deducted $27,055.

As capfriend.com’s tax calculator shows, Meier will pay 5.856 million in taxes this season, leaving him with “only” a net salary of 6.114 million.

Together, the ten Swiss NHL players will pay more than $23 million in taxes this season.

386,000 additional taxes per year after transfer

The differences at the NHL locations are large. For example, Nashville captain Roman Josi (33) lives in a tax haven. Tennessee, like the states of Texas, Florida, Nevada and Washington, does not impose additional taxes. The Berners, who have a salary of 9 million this season, ‘only’ have to pay 39.94 percent tax or just under 3.6 million. In the Canadian ‘tax hells’ of Ottawa, Toronto and Montreal, the tax inspector would take almost 1.2 million extra from him every year.

His friend Nino Niederreiter, 31, is paying $386,000 more annually after being transferred from Nashville to Winnipeg a year ago.

Plus, life as an NHL player is anything but cheap. Players still have to pay their agent (usually 3 to 5 percent of gross wages), a personal trainer, nutrition and tax advisor, insurance or sports nutrition. And a young athlete with an income of millions usually treats himself with something: a sophisticated apartment, a stylish car, a luxury watch, stylish clothes.

There is also peer pressure when the players go out to eat together at away games. A fancy steakhouse is often the order of the day – and people are also generous when it comes to tips or when it comes to footing the bill for young teammates who don’t make much. Speaking of which, at the end of the season the players also pay a gratuity to the physios, equipment supervisors, masseurs and supervisors who are not paid well – a high earner would happily transfer a five-figure sum.

Players who are not among the top earners would do well to keep their expenses under control. Because wages are only paid during the season: every two weeks.