MIAMI, FLORIDA — One of football’s biggest personalities is moving to one of Florida’s largest cities – and saving millions in taxes as a result.
The Miami Dolphins are inheriting Jalen Ramsey’s lucrative contract, but the former Los Angeles Rams cornerback will keep a boatload of cash he would have lost to the government.
Over the next three seasons, Ramsey is expected to pocket $7.3 million in taxes that he would have been required to pay if he stayed in Southern California. Ramsey’s salary is set to pay him $18.3 million annually and save $2 million each year in taxes now that he will be playing in the Sunshine State.
The former Florida State Seminoles’ standout told his Twitter followers: “I prayed for this specifically for about a month & now it's happening!”
This is wild...
— Andrew Petcash (@AndrewPetcash) March 13, 2023
Jalen Ramsey will save $2 million a year playing in Miami compared to Los Angeles.
Taxes: 📈
Dolphins - $0
Rams - $2,261,000 pic.twitter.com/O1hrpT0bqK
Ramsey experienced the opposite scenario when he was traded from for the Jacksonville Jaguars to the Rams in 2019.
California’s 13.3 percent tax rate is the highest of any state in the nation, while Florida is one of only seven states with no state income tax.
Jordan Poyer, who plays for the Buffalo Bills in New York, recently said on his podcast that he “would love to go to a state that doesn’t take half my money.”
