Nunes reminds LeBron James about new tax bill in Los Angeles
{{#rendered}} {{/rendered}}Rep. Devin Nunes, R-Calif., welcomed LeBron James to the Golden State on Monday hours after the basketball superstar signed a four-year, $154 million contract with the Los Angeles Lakers.
Nunes’ welcome wasn’t as warm as you would imagine. He reminded James about the taxes he’d have to pay upon officially living in the state.
“LOL! Prepare to pay the highest taxes you ever have in your career!! You should held out for more just to afford the Moonbeam weather tax!!!” he tweeted.
{{#rendered}} {{/rendered}}Nunes was referring to California’s high price of real estate and the high cost of living due to California’s taxes, according to the Washington Examiner. California has the highest income tax rate in the U.S. and the highest sales tax at 7.25 percent.
James was the second-highest-paid player in the NBA during the 2017-18 season, pulling in $33 million. ESPN reported that James had to pay $11.9 million in federal taxes, $2.1 million in state and city taxes, $950,000 in agent fees and another $18,000 in his 401(k).
According to Business Insider, “The King” also paid about $3.3 million in the NBA’s player revenue share. James took home about $16.7 million in total.
{{#rendered}} {{/rendered}}James, with his move to Los Angeles, stands to pay $21 million in state income tax over his contract term – costing him about $5.2 million on salary and endorsement income this year alone, Forbesreported.
In-state rival Stephen Curry certainly knows how James feels.