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Shohei Ohtani: State controller urges intervention on deferrals

Congress needs to narrow the loophole that allows Shohei Ohtani to avoid paying tens of millions in California state taxes, the state administrator said Monday.

The Dodgers signed Ohtani to a 10-year, $700 million contract last month, with Ohtani deferring $680 million until his contract expires in 2033.

By then, Ohtani may have returned to Japan or moved somewhere outside of California, where he may no longer owe state taxes due to the deferral.it can harm the nation Estimated $98 million According to the California Employment Economics Center, tax revenues have increased significantly.

“The current tax system provides unlimited deferrals to those lucky enough to fall in the top tax bracket, creating a serious imbalance in our tax structure,” Commissioner Maria Cohen said in a statement Monday. Ta. “The lack of a reasonable cap on forbearance for the wealthiest individuals exacerbates income inequality and prevents the fair distribution of taxes. I urge Congress to take immediate and immediate action to redress this imbalance. We call on you to take decisive action.

“Introducing limits on deductions and exemptions for high earners promotes social responsibility and contributes to a fairer and more beneficial tax system for all. It would also generate additional revenue that could be used to address important pressing social issues and promote economic stability.”

In the wake of the Dodgers' billion-dollar winter with Ohtani, Yoshinobu Yamamoto, Tyler Glasnow, and Teoscar Hernandez, if your Hot Stove Bingo card has “Fans pleading for Major League Baseball intervention,” your It's a win. But there's no surprise there.

If your Hot Stove bingo card says “State Controller Pleads for Congressional Intervention,” congratulations. you are a visionary.

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