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Luxury Tax Setup

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Luxury Tax Setup

Post by Migs on Wed May 06, 2015 12:09 pm

There will be a luxury tax enforced on teams who have a team salary cap that is over $5,000 at the end of the playoffs.  For every dollar between $5,001 and 6,000, the tax will be calculated at a rate of $1 for every $100FF.  For every dollar between $6,001 and 7,000, the tax will be calculated at a rate of $2 for every $100FF. (Table B in the league rulebook)  So, if you were to max out your salary cap at $7,000 you would owe an additional $30 in luxury tax.

All rookie deals and waiver wire transactions will be cleared out of your cap space on May 1st.

A running salary cap table will be posted on the website so owners can keep an eye on their situation.

Tax can either be taken out of the related season's winnings, or added onto the following season's $50 fee.

Example 1: Used Cap Space = $5,275.  275/100= $2.75 Tax
Example 2: Used Cap Space = $6,535.  1000/100= $10 & 535/50= $10.70 so, 10+10.70 = $20.70 Tax
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