San Francisco 49ers defensive end Arik Armstead shared his game check with NFL fans on Twitter and his pay stub went viral thanks to the hefty state income taxes imposed in California.
Armstead recently signed a five-year, $85,000,000 contract with the 49ers in 2020, which included a $3.5 million signing bonus, $40 million guaranteed, and an average annual salary of $17 million
However, not all of that money will be making its way to the bank.
According to the pay stub, Armstead makes $393,055 per game but 49.3 percent of that number comes out in taxes. The 49ers defensive end has grossed $4,180,790.80 in total wages this year but has netted only $2,058,652.56 after taxes.
Armstead’s transparency is welcome sign for current and aspiring athletes, who often don’t have the financial literacy needed to manage the millions of dollars that they earn at such a young age. Per Fox Business, 78 percent of former professional athletes will go broke after just three years of retirement.
Fortunately, Armstead’s pay stub also shows that he’s been diligent about saving his money for retirement by maxing out his 401(k).
Check out his pay stub below.
49ers defensive end Arik Armstead shares a game check.
He makes $393,055 a game.
49.3% comes out in taxes. pic.twitter.com/y3X7MBTpEU
— Darren Rovell (@darrenrovell) November 3, 2023
Armstead Has Paid Nearly $42 Million In Taxes During His NFL Career
Armstead has earned a total of $85,266,547 during his NFL career. He has spent all nine years of his career in San Francisco, which means he’s paid approximately $42 million in taxes.
Had Armstead played on a team located in another state, the situation might look a bit rosier.
States like Texas and Florida do not impose any state income taxes, making teams like the Dallas Cowboys, Houston Texans, Tampa Bay Buccaneers, and Miami Dolphins premier free agent destinations.
Former Kansas City Chiefs wide receiver Tyreek Hill explained how state taxes played a role in him selecting the Dolphins over the New York Jets as a potential trade destination.
Tyreek Hill discusses how his contract situation went down.#Chiefs offered $58M in guarantees. His agent then sought out a trade. #Dolphins offered $70M. #Jets offered $68M then $76M and @cheetah’s mom mentioned the state tax and Hill’s “dream was in Miami.”
Said he spoke with… pic.twitter.com/gqcxAzRpZw
— uSTADIUM App (@uSTADIUM) November 1, 2023