FanPost

Sacramento Kings Moving to Seattle Would Hurt California

I guess most GS Warriors fans would be glad to get rid of the Sacramento Kings since they're hated No Cal rivals or feel indifferent to Sacramento's plight.

I hope to present a case for keeping the Kings in Sacramento or more importantly keeping them in California. For one, California politicos would be upset to see the NBA move out of the Capital of CA and that could affect the Golden State Warriors, Los Angeles Lakers, Los Angeles Clippers as well as the other major leagues sports teams if the state would have to raise taxes. Darrell Steinberg, State Senator D-Sacramento, has requested that the state looks at its contracts with Microsoft and has stated other legislation Fight to keep Kings in Sacramento takes political turn .

Furthermore, California stands to lose approximately $32 million per year and more in taxes if the Kings move to Seattle.

"If the Kings leave, this will only add to a long-standing problem of California losing tax revenue to other states – especially low- or no-tax states – like Washington. IRS data migration in the fifteen-year period from 1995 to 2010 shows that King County (where Seattle is located) alone has pulled close to half a billion in adjusted gross income (AGI) from just three of California's fifty-eight counties. This includes:

  • $32 million from Sacramento County
  • $98 million from Orange County
  • $313 million from Los Angeles County
To give you an idea how much tax revenue California receives from professional athletes, CPA Robert A. Raiola contacted a source at the California Franchise Tax Board (FTB). According to that source, in 2010, the FTB collected a total of $171.7 million in tax revenue from professional athletes. The first and second largest contributors were major league baseball and football players. California's four NBA teams combined are the third highest revenue source. The FTB collected $37.4 million from NBA players, said Raiola, who heads the Sports & Entertainment Group for the New Jersey–based accounting firm of Fazio, Mannuzza, Roche, Tankel, LaPilusa, LLC."

Tax $$ May Leave California with NBA Kings

If the Sacramento Kings leave, then probably your own income or sales taxes could go up in order to keep California afloat.

This FanPost is a submission from a member of the mighty Golden State of Mind community. While we're all here to throw up that W, these words do not necessarily reflect the views of the GSoM Crew. Still, chances are the preceding post is Unstoppable Baby!

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