The reason Tyreek Hill picked Florida over New Jersey? State taxes
The Miami Dolphins are 3-1 this season and wide receiver Tyreek Hill is one reason for that. The six-time Pro Bowler currently leads the Dolphins with 31 receptions for 477 receiving yards along with two TDs.
It could have been the New York Jets who secured his services when he left the Kansas City Chiefs this summer. Sports Illustrated reports that:
…the Jets were firmly in the mix for Hill’s services amid talks of his desire to leave Kansas City earlier this year. ESPN’s Adam Schefter reported on Mar. 23 that New York offered Kansas City the No. 35, No. 38 and No. 69 picks in the 2022 NFL draft in exchange for Hill and the No. 103 pick. Schefter also reported at the time the Jets and Dolphins were the only teams in “serious talks” to acquire the All-Pro wideout.
Of course, those conversations ultimately swayed in Miami’s favor as the club landed Hill later that day after offering a lucrative $120 million extension and a bevy of draft assets.
And why did Hill choose the Dolphins over the Jets?
“It’s just those state taxes, man. I realized I had to make a grown-up decision,” Hill said. “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.”
The New York Post explains:
Florida has no state income taxes. New Jersey has a marginal income tax of 10.75 percent for individuals making more than $5 million per year. Hill is slated to make $30 million per year on his contract, and his state income taxes if he played for the Jets would total about $3 million per year.
In our report ‘Taxes and Migration – Minnesotans on the Move to Lower Tax States‘, we found that Minnesota’s high taxes, like New Jersey’s in Hill’s case, deter people from moving here. There is, furthermore, evidence which finds specifically that high state taxes damage a sports team’s prospects. Tyreek Hill is one story, but he is part of a definite trend.