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(The Center Square) - California’s state controller is calling upon Congress to adopt legislation that would force Los Angeles Dodgers star Shohei Ohtani to pay California taxes on his deferred ....
California Controller Malia M. Cohen wants Congress to change the tax code to cap deferred payments, a change that could ensure the state is owed more money… ....
By Antonio Ray Harvey | California Black Media (File photo) Malia Cohen speaking at Life Changing Ministries in San Bernadino May 15, 2022 (CBM) - Over ....
California Controller Malia M. Cohen is calling on the U.S. Congress to amend the tax code and impose caps on deferred payments following Shohei Ohtani's historic $700 million deal with the Los Angeles Dodgers. Ohtani's contract structure: Ohtani's groundbreaking 10-year contract has him making $2 million per year until 2034, deferring $68 million of his $70 million annual salary. ....
California Controller Malia M. Cohen wants Congress to change the tax code to cap deferred payments, a change that could ensure the state is owed more money from Shohei Ohtani. Cohen made the request four weeks after the two-way star and the Los Angeles Dodgers agreed to a record $700 million, 10-year contract that contains $680 million in deferred payments due from 2034-43. If Ohtani is not living in California at the time he receives the deferred money, he potentially could avoid what currently is the state’s 13.3% income tax and 1.1% payroll tax for State Disability Insurance. ....