University of Washington Huskies point guard Markelle Fultz will learn which NBA team will likely select him in the 2017 NBA Draft. But the 2017 NBA Lottery will also be quite taxing, literally
The University of Washington Huskies point guard Markelle Fultz has not had much experience in one very important aspect of NBA life. Income taxes. You see, tonight at the 2017 NBA Lottery, one NBA team will walk away with the top selection of the 2017 NBA Draft.
One team likely in an urban, highly taxed, personal income tax state. And that is a unique experience for our beloved Markelle Fultz. You see, the State of Washington does not levy a state income tax. Unfortunately the only NBA team formerly from the state, the Seattle Supersonics, are now no more.
So tomorrow morning, Markelle Fultz will need to consider that frightening event: contacting a tax accountant.
How Do NBA Teams Rank in Taxation?
So how do NBA teams rank in personal income tax rates? To offer that, I have to turn to Fansided.com’s Nylon Calculus article by Tim Wieland, who has created an excellent article and a great visual chart. The article was originally designed to distinguish the “take home pay” of an NBA free agent after state income taxes. But the same information is equally relevant when we are talking the impact of NBA rookies being drafted in 2017.
(Note that local taxes sometimes levied by individual counties are not included in the amounts below.)
NBA Lottery Odds
Now that we know the taxation of each state, let’s consider the odds of Markelle Fultz landing at each NBA team. Odds are courtesy of Tankathon.com and have been amended due to known stock swaps.
2017 NBA Draft Lottery Odds:
Team % to Pick No.1
Boston Celtics (via Nets) 25.0
Phoenix Suns 19.9
Los Angeles Lakers 15.6
Philadelphia 76ers (+ via Kings) 14.7
Orlando Magic 8.8
Minnesota Timberwolves 5.3
New York Knicks 5.3
Sacramento Kings (to 76ers) (2.8 swap)
Dallas Mavericks 1.7
Sacramento Kings (via Pelicans) 1.1
Charlotte Hornets 0.8
Detroit Pistons 0.7
Denver Nuggets 0.6
Miami Heat 0.5
Plan Accordingly, Financially
As you can see, right now Markelle Fultz has pretty good odds of landing in a less taxed NBA town. In fact, his chances of landing in the lower 50% of NBA Taxed teams is 73 percent. If you want to know more about how taxes affect athletes, I suggest you check out Fansided’s Mark Evans’ article: How Do Taxes Really Affect NBA Contracts?
After watching so many Washington Huskies step up to the ranks of professional athletes, it’s now time for Markelle Fultz to join the pros.
But it may also be the occasion where Markelle Fultz needs to hire a financial planner and tax accountant. If he’s wise, tomorrow will find both on his “to do” list.