Dwyane Wade dished out an eyewatering $890,000 for staying in his own town!

Dwyane Wade is rich, very rich. He has a net worth of approximately $170 million. But he didn’t pay taxes for a while until he had to! 

Living in Florida has its perks. For one, you don’t have to pay a lot of taxes. To be fair, there is no state income tax, which makes it an ideal landing spot for NBA players.

Dwyane Wade, the torchbearer for the Miami Heat loved living in Florida. So much so that he probably didn’t account for taxes when he made the switch to Chicago Bulls.

Towards the tail end of his career, Wade played in Chicago, his hometown. The Bulls might have been a great team to play for but the same can’t be said for his wallet, which would take a beating.

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Dwyane Wade paid over $890,000 to the state of Illinois!

At the time, Chicago offered $7.5 million more to sign him but he had to pay nearly a million Dollars as tax!

Illinois has an income tax rate of 3.75% and Wade was signed on a $47.5 million deal. If you split that, you get $23.75 million as an annual income. Wade had to pay roughly $890,000 to the state department in taxes.

We reckon that is the most tax he has paid in his life. After all, Florida has the 34th highest state tax burden, whereas Illinois is comfortably in the top 5.

So, talk about counting your chickens before they hatch. Pretty sure that’s not why Wade elected to sign with the Bulls. Despite that, a nice hole worth a million is not fun for anyone, especially not millionaires.

Also read: Dwyane Wade fears he will lose his “$170 million” fortune after retiring from the NBA