Shohei Ohtani contract: State controller urges Congress to intervene on deferrals
The state controller of California is urging Congress to close a tax loophole that could allow baseball player Shohei Ohtani to avoid paying millions in state taxes.
Currently, Ohtani could defer a significant portion of his $700 million contract until after it expires in 2033, potentially saving him from California state taxes if he moves outside the state before then.
The state controller argues that closing this loophole will promote a more equitable tax system and generate additional revenue for social issues and economic stability. [ more ]