Buffalo Bills quarterback Josh Allen‘s recent six-year, $330 million contract extension, inked in March, sent shockwaves through the NFL.
It stands as the second-largest deal in league history, trailing only Patrick Mahomes‘ colossal $450 million extension with the Kansas City Chiefs in 2020.
Buffalo Bills fans booed and cursed after Josh Allen was drafted and the video still stings
While the headline figures are astronomical, football fans are now grappling with the equally staggering reality of how much of that monumental sum Allen will actually take home after taxes.
As highlighted by the ML Football X/Twitter account, more than half of Allen‘s annual income from this new contract is projected to be siphoned off by various tax obligations.
The detailed breakdown paints a clear picture of the substantial deductions: $20.35 million in federal income tax, $5.9 million in New York State taxes, $1.3 million in federal payroll taxes, and an additional $478,500 attributed to the “jock tax.”
This adds up to a grand total of $27.08 million in taxes, leaving Allen with a net income of $25.27 million from this portion of his earnings.
Fan reactions to Allen’s tax burden
The revelation of Josh Allen‘s substantial tax burden sparked a flurry of “hysterical reactions” among football fans across social media. The responses ranged from sympathetic to outright humorous.
“Poor guy can’t catch a break,” lamented one user, reflecting a playful pity for the highly compensated athlete.
Another comment offered a direct, if somewhat impractical, piece of financial advice: “That’s why you don’t live in NY.”
Despite the collective gasp over his tax bill, it’s safe to say that Josh Allen will, indeed, be “just fine.” This latest extension builds upon an already impressive financial foundation.
He signed a $258 million extension back in 2021, and before that, his rookie deal also secured him millions. Beyond his on-field earnings, Allen also boasts a robust portfolio of endorsement deals, further supplementing his considerable income.
His financial security is undoubtedly robust, allowing him to focus on leading the Bills.
Looking ahead, Allen and the reigning AFC East champions are set to kick off their 2025 campaign with a high-stakes matchup.
They will play host to Lamar Jackson and the Baltimore Ravens on ‘Sunday Night Football’ in Week 1. This opening game promises to be a thrilling rematch of their intense Divisional Round clash, where Buffalo narrowly escaped with a 27-25 victory after Baltimore tight end Mark Andrews famously dropped a game-tying two-point conversion attempt in the final seconds.