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Description
In-depth analysis of Shohei Ohtani’s record-shattering contract with the Los Angeles Dodgers, specifically on the widely-reported deferral of $680 million, as well as how that will be treated for federal and state income tax purposes.
Learning Objectives
Upon completion of the webcast, viewers will have an understanding of the following:
Taxation of service income in the United States
State income taxation, focusing on sourcing v. residency and so-called “jock taxes”
Specific discussion of the purported terms of Shohei Ohtani’s contract and the deferral mechanism
Potential for deferral of income at the federal level, focusing on timing, deferral, and executive compensation issues (e.g., 409A)
Potential for deferral of income at the state level, focusing on timing and state sourcing
Discussion of whether the US will tax the income, focusing on the IRC and the US-Japan Income Tax Treaty