Buffalo Bills’ quarterback Josh Allen is seeing some concerning news leak regarding his pocket book. This news comes shortly after he signed his massive six year contract worth $330 million.
However, Allen will be forced to forfeit an insane amount of money.
Breaking: Bills’ Josh Allen Ordered To Forfeit Over $27 Million (Report)
Fans are horrified to hear how much Buffalo Bills quarterback Josh Allen will owe in taxes on his new contract:
In March, Josh Allen and the Bills agreed to a lucrative six-year contract extension worth $330 million. It’s the second-biggest contract in NFL history, behind only the $450 million extension Patrick Mahomes signed with the Kansas City Chiefs in 2020.
Like every other honest and hard-working citizen, however, Allen will lose a good portion of his income in taxes. As noted by the ML Football X/Twitter account, more than half of Allen’s salary will be given up in taxes.
The breakdown is this: $20.35 million in federal income tax, $5.9 million in New York State taxes, $1.3 million in federal payroll taxes and $478,500 in the jock tax. That adds up to $27.08 million in taxes for a net income of $25.27 million.
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Football fans had plenty of hysterical reactions to Josh Allen’s giant tax bill.
“Poor guy can’t catch a break,” said a user.
“That’s why you don’t live in NY,” said another.
Bro I couldn’t afford groceries under that salary,” a user joked.
“mans paying more in taxes than my annual salary,” wrote a fan.
“Aka congress please get to passing HR 25,” said another.
Indeed, Josh Allen will be just fine. He signed a $258 million extension back in 2021 and got millions of dollars on his rookie deal before that. He makes plenty of money in endorsements, too.
Allen and the reigning AFC East champions will look to kick off the 2025 season on a high note when they play host to Lamar Jackson and the Baltimore Ravens on ‘Sunday Night Football’ in Week 1.
This will be a rematch of their thrilling Divisional Round tilt, where Buffalo narrowly hung on for a 27-25 win after Baltimore tight end Mark Andrews dropped a game-tying two-point conversion attempt in the waning seconds.
