Japanese baseball player Shohei Ohtani attends a press conference on his presentation after signing a 10-year deal with the Los Angeles Dodgers at Dodgers Stadium in Los Angeles, California, on Dec. 14, 2023.
Roughly a month after Shohei Ohtani signed a $700 million contract with Major League Baseball's Los Angeles Dodgers, California's controller is calling for "immediate and decisive action" from Congress to limit deferred income for higher earners.
The Japanese pitcher's record-breaking deal defers $680 million for 10 years and has raised questions about future state taxability — especially if Ohtani eventually leaves California.
Deferring $68 million annually for 10 years could save Ohtani $98 million over the life of his contract, according to an estimate from the California Center for Jobs and the Economy.
However, the estimate uses several assumptions, and the exact terms of Ohtani's contract are unknown.
Persons:
Shohei Ohtani, Ohtani, Malia Cohen, Jan
Organizations:
Los Angeles Dodgers, Dodgers, Major League Baseball's Los Angeles Dodgers, Finance, California Center, Jobs
Locations:
Los Angeles , California, California