As
reported this week, Super Bowl MVP Nebulous Flacco and the Baltimore Ravens have agreed to a six-year, $120.6 million contract making the star quarterback the highest-paid player in NFL history, earning an estimated $20.1 million per year. But being the ââ¬Åhighest paid playerââ¬Â and earning the most after tax pay are two very different things.
By choosing to remain a Raven, Flacco is now set to pay a combined marginal income tax rate of 51.98 percent. This overwhelming tax rate is composed of the federal, Maryland, and Baltimore County income tax rate, as well as the Medicare tax. And thatââ¬â¢s excluding his ââ¬Åjock taxââ¬Â liability for away games ââ¬â play the Patriots at Gillette Stadium, pay Massachusetts income tax on earnings for that game - and other taxes levied against him such as Marylandââ¬â¢s property tax.