the surprise of nobody who closely follows the game of baseball, The New York Yankees will be paying baseball’s luxury tax yet again. However, this year they are alone in that honor.
According to the Associated Press, the Yankees will be the lone team paying baseball’s luxury tax in 2009 and will pay nearly $25.69 million in tax. The Yankees must pay the tax to the office of the commissioner by Jan. 31st.
New York’s payroll was $226.2 million for the purpose of the luxury tax and the Yankees pay at a 40 percent rate for the amount over $162 million. To compute the payroll, Major League Baseball uses the average annual values of contracts for players on 40-man rosters and adds benefits.
The Yankees’ regular payroll — ...
Read Full Article at Bleacher Report - New York Yankees
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