Apparently, quarterback Josh Allen is not only great for the Buffalo Bills football team, he is also good for the economy of the state of New York.

As we get closer to the end of 2022, most of us will start looking for our W-2s and getting ready to file our tax returns over the next couple of months.

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Hopefully, Josh has a great accountant because it looks like he will owe a lot when it comes to taxes.

Someone on TikTok broke down what Allen is expected to pony up for taxes based on his latest NFL contract. This does not include any endorsements or other deals he has outside his contract with the Buffalo Bills.

@thenextgenbusiness Josh Allen’s $43 MILLION Salary After Taxes #buffalobills #nfl #football #salary #viral #democrat #republican #taxes ♬ original sound - TNGB | Finance Simplified

Here is a breakdown of the taxes Josh Allen is expected to pay based on his $43 Million Dollar contract.

Federal Taxes - Around $15.8 million dollars
New York State Taxes - Around $3.2 million dollars
FICA (Federal Insurance Contributions Act) Taxes - Around $1.02 million
"Jock Tax" - $387,000 dollars

Overall Taxes are around $30.43 million dollars or around 47.5% of his gross income.

Of course, New York State has some of the highest taxes in the state and that is why some NFL players won't come and play in Buffalo. Those taxes on big contracts add up to some major cash.

I am sure that New York State is more than happy to have more and more NFL superstars sign in Buffalo, it only adds to the state coffers.

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