Players are paid monthly during the regular season according to their contract. The monthly pay is the amount of his contracted divided by the (approximately) six month season. He makes $25 million this year. So, that's about $4,166,666.67 per month.
Players are not paid during spring training - aside from meal money - or after the end of the championship 162 game season. Post season money is determined by the Collective bargaining agreement (CBA.)
(I googled it.)
After FICA of 35% that's about $2,708,333.33 per month. I don't know the state tax rate although I presume he's a Florida resident (where they have no state income tax), but earning income in other states (don't really know those payroll rules either). And rest assured, he's paying Luxury Income Taxes in some locations also. Then there's SS/Medicare. Let's say that's another 10% off the top. So, a rough guess has Joey taking home about $2.3 MM a month during the season.
edit: SSI is capped, but somebody is probably still gouging him for that extra 10% somewhere.
Last edited by Burger Beer; 02-18-2020 at 11:31 AM. Reason: exceeds SSI max
Reds (04-28-2021)
This is what a typical player's check stub looks like:
Andrew McCutchen's pay stub includes lots and lots of taxes
Our planet is a lonely speck in the great enveloping cosmic dark. In our obscurity, in all this vastness, there is no hint that help will come from elsewhere to save us from ourselves. -- Carl Sagan (Pale Blue Dot)
CaiGuy (02-18-2020),UKFlounder (02-18-2020)
Joey Votto’s checks are probably in loonies. Looks like he has a house in California, though. But I guess that doesn’t mean it’s his primary residence for tax purposes.
https://www.latimes.com/business/realestate/hot-property/la-fi-hotprop-joey-votto-20190109-story.html
Chip R (02-18-2020)
good thing they take out that 1500.00 for 401k. Gotta think of the future, Andrew...
"Lemonade requires a significant amount of sugar. Otherwise, you've just made lemon juice."
BoxingRed (05-12-2020),CaiGuy (02-21-2020),cincinnati chili (02-20-2020)
...and they are taxed by each municipality based on when their employer who writes the check has a game played in that city/county/burrough/state/etc., whether they play in the game or are on the disabled list. They must file and pay those taxes at the end of every year or they can be gone after in court by those municipalities. It's pretty complicated.
"One problem with people who have no vices is that they're pretty sure to have some annoying virtues."
Nick Senzel added yesterday.
* Attended the 1990 and 2010 Reds Division clinchers *
Go 76ers, Go Steelers and Go Bucks
Ron Madden (02-24-2020)
goreds2 (02-25-2020),Ron Madden (02-24-2020)
goreds2 (02-25-2020),Ron Madden (02-24-2020)
Hunter Green was just added today.
* Attended the 1990 and 2010 Reds Division clinchers *
Go 76ers, Go Steelers and Go Bucks
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