Please ensure Javascript is enabled for purposes of website accessibility

West Bank Town Becomes ‘Big Prison’ as Israel Fences It In

1 day ago

Trump Says He’s Willing to Let Migrant Farm Laborers Stay in US

1 day ago

US Electric Vehicle Tax Breaks Will Expire on Sept. 30

2 days ago

Eyeing Arctic Dominance, Trump Bill Earmarks $8.6 Billion for US Coast Guard Icebreakers

2 days ago

Trump’s Sweeping Tax-Cut and Spending Bill Wins Congressional Approval

2 days ago

Americans Celebrate Their Independence With Record-Breaking Travel Numbers

2 days ago

US Supreme Court to Decide Legality of Transgender School Sports Bans

2 days ago

Nvidia Set to Become the World’s Most Valuable Company in History

2 days ago

Poll: 41% in US ‘Extremely Proud’ to Be American, Near Historic Low

2 days ago
Ohtani's Dodgers Deal Prompts CA Controller to Ask Congress to Cap Deferred Payments
gvw_ap_news
By Associated Press
Published 1 year ago on
January 10, 2024

Share

Getting your Trinity Audio player ready...

SACRAMENTO — California Controller Malia M. Cohen wants Congress to change the tax code to cap deferred payments, a change that could ensure the state is owed more money from Shohei Ohtani.

Cohen made the request four weeks after the two-way star and the Los Angeles Dodgers agreed to a record $700 million, 10-year contract that contains $680 million in deferred payments due from 2034-43. If Ohtani is not living in California at the time he receives the deferred money, he potentially could avoid what currently is the state’s 13.3% income tax and 1.1% payroll tax for State Disability Insurance.

“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 said in a statement Monday. “The absence of reasonable caps on deferral for the wealthiest individuals exacerbates income inequality and hinders the fair distribution of taxes. I would urge Congress to take immediate and decisive action to rectify this imbalance.”

Cohen’s statement was first reported by the Los Angeles Times.

Ohtani’s deal has the potential to save $98 million in state tax, according to the California Center for Jobs and the Economy, a public benefit corporation that aims to provide information on job creation and economic trends.

Cohen became the controller last year. She was president of San Francisco’s Board of Supervisors in 2018 and ’19.

“Introducing limits on deductions and exemptions for high-income earners promotes social responsibility and contributes to a tax system that is just and beneficial for all,” she said. “This action would not only create a more equitable tax system, but also generate additional revenue that can be directed towards addressing pressing important social issues and fostering economic stability.”

 

 

RELATED TOPICS:

DON'T MISS

What Are Fresno Real Estate Experts Predicting for 2025 and Beyond?

DON'T MISS

First California EV Mandates Hit Automakers This Year. Most Are Not Even Close

DON'T MISS

How Trump’s ‘Big, Beautiful Bill’ Will Make China Great Again

DON'T MISS

What’s Caitlin Clark Worth to the WNBA? A Lot More Than Her $78,066 Salary.

DON'T MISS

Trump to Sign Tax-Cut and Spending Bill in July 4 Ceremony

DON'T MISS

Madre Fire Spurs Evacuations Across 3 Counties, Grows to More Than 70,000 Acres

DON'T MISS

Clovis, Sanger, Madera, and Bass Lake Will Light the Sky With Fireworks Shows Tonight

DON'T MISS

Oil Dips Ahead of Expected OPEC+ Output Increase

DON'T MISS

613 Killed at Gaza Aid Distribution Sites, Near Humanitarian Covoys, Says UN

DON'T MISS

Fresno County Authorities Investigating Suspicious Death of Transient Man

DON'T MISS

West Bank Town Becomes ‘Big Prison’ as Israel Fences It In

DON'T MISS

Israeli Military Kills 20 in Gaza as Trump Awaits Hamas Reply to Truce Proposal

UP NEXT

What’s Caitlin Clark Worth to the WNBA? A Lot More Than Her $78,066 Salary.

UP NEXT

Trump to Sign Tax-Cut and Spending Bill in July 4 Ceremony

UP NEXT

Madre Fire Spurs Evacuations Across 3 Counties, Grows to More Than 70,000 Acres

UP NEXT

Clovis, Sanger, Madera, and Bass Lake Will Light the Sky With Fireworks Shows Tonight

UP NEXT

Oil Dips Ahead of Expected OPEC+ Output Increase

UP NEXT

613 Killed at Gaza Aid Distribution Sites, Near Humanitarian Covoys, Says UN

UP NEXT

Fresno County Authorities Investigating Suspicious Death of Transient Man

UP NEXT

West Bank Town Becomes ‘Big Prison’ as Israel Fences It In

UP NEXT

Israeli Military Kills 20 in Gaza as Trump Awaits Hamas Reply to Truce Proposal

UP NEXT

Valley Crime Stoppers’ Most Wanted Person of the Day: Rachelle Maria Blanco

Madre Fire Spurs Evacuations Across 3 Counties, Grows to More Than 70,000 Acres

1 day ago

Clovis, Sanger, Madera, and Bass Lake Will Light the Sky With Fireworks Shows Tonight

1 day ago

Oil Dips Ahead of Expected OPEC+ Output Increase

1 day ago

613 Killed at Gaza Aid Distribution Sites, Near Humanitarian Covoys, Says UN

1 day ago

Fresno County Authorities Investigating Suspicious Death of Transient Man

1 day ago

West Bank Town Becomes ‘Big Prison’ as Israel Fences It In

1 day ago

Israeli Military Kills 20 in Gaza as Trump Awaits Hamas Reply to Truce Proposal

1 day ago

Valley Crime Stoppers’ Most Wanted Person of the Day: Rachelle Maria Blanco

1 day ago

Russia Pounds Kyiv With Largest Drone Attack, Hours After Trump-Putin Call

1 day ago

Boxer Chavez Jr Expected to Be Deported to Mexico to Serve Sentence, Mexican President Says

1 day ago

How Trump’s ‘Big, Beautiful Bill’ Will Make China Great Again

Can you hear it — that loud roar coming from the East? It’s the sound of 1.4 billion Chinese laughing at us. Thomas L. Friedman The New Yo...

10 hours ago

Solar Farm in Riesel, Texas
10 hours ago

How Trump’s ‘Big, Beautiful Bill’ Will Make China Great Again

Caitlin Clark Signs T-Shirt
10 hours ago

What’s Caitlin Clark Worth to the WNBA? A Lot More Than Her $78,066 Salary.

President Donald Trump speaks during a press conference in the Roosevelt Room at the White House in Washington, D.C., U.S., May 12, 2025. (Reuters File)
1 day ago

Trump to Sign Tax-Cut and Spending Bill in July 4 Ceremony

The Madre Fire burning near New Cuyama has scorched 70,801 acres as of Friday, July 4, 2025, afternoon, making it California’s largest wildfire of the year, with only 10% containment and multiple evacuation zones in place. (CalFire)
1 day ago

Madre Fire Spurs Evacuations Across 3 Counties, Grows to More Than 70,000 Acres

1 day ago

Clovis, Sanger, Madera, and Bass Lake Will Light the Sky With Fireworks Shows Tonight

A pumpjack operates at the Vermilion Energy site in Trigueres, France, June 14, 2024. (Reuters File)
1 day ago

Oil Dips Ahead of Expected OPEC+ Output Increase

Palestinians gather to collect what remains of relief supplies from the distribution center of the U.S.-backed Gaza Humanitarian Foundation, in Rafah, in the southern Gaza Strip, June 5, 2025. (Reuters File)
1 day ago

613 Killed at Gaza Aid Distribution Sites, Near Humanitarian Covoys, Says UN

Billy Wayne Sinisgalli, a 54-year-old transient known locally as Wayne, was found dead along a rural Fresno road Wednesday in what authorities are investigating as a suspicious death. (Fresno County SO)
1 day ago

Fresno County Authorities Investigating Suspicious Death of Transient Man

Help continue the work that gets you the news that matters most.

Search

Send this to a friend