NFL star Tyreek Hill of the Miami Dolphins signed a massive free agent this past offseason. He opted for Miami instead of signing with the New York Jets. You might be thinking he made the choice because the Jets stink, but he revealed why he really chose the Dolphins during a press briefing on Monday.
“It was very close to happening,” Hill said of signing with the Jets. “Just those state taxes man. You know, I had to realize I had to make a grown-up decision. And now here I am in the great city of Miami. You know, great weather, great people. Beautiful people, I feel like. So here I am.”
Florida has no income taxes while New Jersey has a 10.75% personal income tax for individuals who make more than $5 million, which is the classification Hill falls under.
Estimates indicate signing in New York could have cost him as much as $3 million in addition income taxes.
Florida is one of four states that do not have an income tax. The other three are Tennessee, Texas and Washington. Then looking at things from the other side of the spectrum, California is the state with the highest income tax at 13.3%.