What is unusual and makes this worthy of mention at a place like California Local: There are tax implications for the Golden State. This is because Ohtani could have returned to his native Japan, where he is wildly popular, by the time the deferrals kick in. Shaikin’s piece includes a statement from California State Controller Malia Cohen that urges Congress to take reformative action. “The current tax system allows for unlimited deferrals for those fortunate enough to be in the highest tax brackets, creating a significant imbalance in the tax structure,” Cohen’s statement reads. Read more in the article “Shohei Ohtani could avoid paying tens of millions in California taxes” on LATimes.com.

Source: Los Angeles Times January 10, 2024 08:21 UTC