http://www.businessandmedia.org/articles/2...0708120415.aspx
The tax savings for James in Miami over New York City would be staggering, according to the Post’s analysis.
“On a five-year contract worth $96 million -- what he'd get from the Knicks or the Heat -- LeBron would pay $12.34 million in New York taxes.” Florida has no state income tax.
New Jersey and Ohio, the other reported frontrunners to attract James, also have state income taxes, but they are not as high as in New York. Based on a $96 million contract, James would pay $5.69 million in state taxes if he re-signed with the Cleveland Cavaliers. If he signed with the New Jersey Nets, James would pay $10.32 million in state taxes.