College Athletes Who Receive NIL Income

Since the Supreme Court ruled that college athletes can be compensated for their name, image and likeness (NIL), many student athletes have inked deals with forms to act as brand sponsors, touting products and services in commercials and ads, and even on social media platforms.  Many of these deals are through NIL collectives.

NIL income is taxable, whether you’re paid in cash, free products, or services.  Most student athletes could also owe self-employment tax on their net NIL earnings.