Kiyan Anthony Navigates NIL Earnings and Tax Reality at 17

SYRACUSE, N.Y. — At just 17 years old, Kiyan Anthony is not only poised for a promising basketball career but also navigating the complexities of financial responsibilities, particularly concerning taxes on his Name, Image, and Likeness (NIL) earnings. Recently, he was reminded of the fiscal reality when his credit card was declined during a shopping trip, prompting a conversation with his father, NBA star Carmelo Anthony, about managing newfound wealth.

Kiyan, who is committed to Syracuse University, holds a remarkable NIL valuation of $1.1 million, backed by several lucrative endorsement deals, including one with PSD Underwear. These earnings, however, come with significant tax implications. Earlier this month, legislation introduced in Georgia proposed to eliminate a 5.49 percent state income tax for college athletes, but for now, Kiyan and others in similar positions must report their NIL income on their federal and state tax returns.

Carmelo Anthony underscores the importance of understanding these financial matters. He shared insights on the shifts in their family dynamic due to Kiyan’s earnings, stating, “I told him the other day, I said, you in my tax bracket now. You’re part of the 1%. So now I can’t hide that information from you.” He stressed that while Kiyan might be earning substantial sums, up to 60% may be deducted in taxes.

NIL earnings are classified as ordinary income, subject to federal tax rates ranging from 10% to 37%. Additionally, athletes may incur self-employment tax, approximately 15.3%, and state income tax, which significantly varies across states. For example, Kiyan may face a state income tax of 4% to 10.9% because he will be playing in New York.

Carmelo is proactive in ensuring Kiyan learns financial responsibility, saying, “It takes the individual to understand exactly what they want. But this ain’t overnight. This seed been planted for a long time.” The lessons extend beyond mere tax obligations, encompassing budgeting and financial planning necessary to sustain Kiyan’s burgeoning career.

Notably, Kiyan’s NIL journey began in September 2023 when he signed with PSD Underwear, making headlines for becoming the youngest basketball player to secure a deal with the brand. Reflecting on his multiplying opportunities, Kiyan expressed that it’s “more than just a partnership… it’s a collaboration that represents my style and my love of basketball.”

In addition to his thriving endorsement deals, Kiyan has established his own clothing brand, ‘One Way.’ Operating out of Harlem, the brand specializes in casual apparel, with plans for expansion into a full retail store. Kiyan stated, “After the game, I linked up with my boy Jaden to go over the brand. The end goal is to open up a whole store and everything.”

In the fast-paced world of NIL agreements, Kiyan has not slowed down. He recently partnered with the Mamba & Mambacita Sports Foundation and expressed aspirations to sign an endorsement deal with Jordan Brand, reminiscent of his father’s historic partnership with the company.

Carmelo Anthony has expressed his pride in Kiyan’s initiative and business sense, stating, “I’m proud of him that he took it upon himself to set a little business up for him and not wait for me or his mom.” With a strong support system, Kiyan seems well-prepared for his dual pursuit of basketball and entrepreneurship.