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Message: [QUOTE="UConnCat, post: 2489220, member: 15"] The new tax law, effective 1/1/18, is about to make coaches's compensation (including buyouts) above $1 million more expensive. [I]Like other non-profit organizations, colleges will be responsible for paying a 21% excise tax on annual compensation above $1 million that goes to any of the organization’s five most highly compensated employees. The tax is set to take effect on compensation earned, beginning Jan. 1. It also will be applied to certain types of what the legislation calls “parachute payments,” or separation payments like a buyout.[/I] [I] [URL]http://www.knoxnews.com/story/sports/2017/12/22/new-tax-bill-impact-sports-world-starting-millions-costs-colleges/976281001/[/URL][/I] [/QUOTE]