"Let's help him out with a GoFundMe": Josh Allen's massive $55M salary hit hard by taxes, fans can't stop joking about what's left

Time of India

a day ago

NFL star Josh Allen loses big chunk of $55M salary to New York taxes (Getty Images)
When Josh Allen signed his jaw-dropping six-year, $330 million contract extension with the Buffalo Bills earlier this year, NFL fans and analysts alike were left awestruck. The record-shattering numbers put Allen right behind Patrick Mahomes in terms of the largest contracts in league history.
But amid the celebration and excitement, a more sobering topic quickly surfaced — just how much of that staggering paycheck will Allen actually keep?
Spoiler alert: not as much as most people think.
Josh Allen's $330M contract extension: The tax reality behind the NFL's mega deal
According to a post by the MLFootball X (formerly Twitter) account, over $27 million of Allen's projected $55 million annual salary will be claimed by various tax authorities. These include $20.35 million in federal income tax, $5.9 million in New York State taxes, $1.3 million in federal payroll taxes, and roughly $478,500 in 'jock tax' — a fee professional athletes pay for performing in multiple states.
This estimate led to waves of reactions online, from empathetic sighs to humorous jabs. Of course, all jokes aside, it's clear that Uncle Sam has a powerful arm when it comes to grabbing a chunk of NFL paychecks.
Still, it's important to note that the tax math is far from an exact science. As with many top-earning athletes, the precise amount Josh Allen will lose to taxes depends on a range of personal financial details — many of which are kept private.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
5 Books Warren Buffett Wants You to Read In 2025
Blinkist: Warren Buffett's Reading List
Undo
NerdWallet's tax bracket estimates suggest Allen could pay upwards of $8.4 million to New York State alone, depending on how he files. That already raises questions about the accuracy of the earlier MLFootball figures.
Even so, the central idea remains valid: Allen, like most professional athletes playing in high-tax states like New York or California, is facing an uphill battle to retain more than half of his income.
It's not a new conversation, either. Similar speculation surfaced in previous years, especially when Allen signed his earlier $258 million extension in 2021. It's a known reality that high-income earners in states with steep tax brackets will fork over a sizable portion of their earnings to the government. Add in the complexities of 'jock tax' — which is only applied to games played within specific states — and the picture becomes even murkier.
However, don't feel too sorry for Buffalo's star quarterback. His earnings portfolio isn't limited to just NFL contracts. Allen's endorsement deals, ranging from national brands to regional partnerships, add millions more to his annual income. He's not just surviving; he's thriving — financially, professionally, and personally.
And as for the Bills, their ambitions remain as high as ever. Allen will lead the reigning AFC East champions into a marquee showdown against Lamar Jackson and the Baltimore Ravens in Week 1 of the 2025 season.
Scheduled for 'Sunday Night Football,' the game promises a thrilling rematch of last season's nail-biting Divisional Round face-off, where Buffalo escaped with a narrow 27-25 win — thanks, in part, to a dropped two-point conversion attempt by Ravens tight end Mark Andrews in the dying moments.
Whether or not Allen pockets all of that $330 million is beside the point now. His leadership, talent, and resilience have cemented his place among the NFL's elite. While taxes may be inevitable, so too is Josh Allen's continued impact on the game — and that's something no dollar figure can fully quantify.
Also Read:
Josh Allen and Hailee Steinfeld's wedding photo gets a quiet but telling response from the Buffalo Bills