New Jersey Taxes to Eat Up Peyton Manning’s Super Bowl Earnings?

Denver Broncos quarterback Peyton Manning arrives for a news conference Wednesday, Jan. 29, 2014, in Jersey City, N.J. The Broncos are scheduled to play the Seattle Seahawks in the NFL Super Bowl XLVIII football game Sunday, Feb. 2, in East Rutherford, N.J. (AP Photo/Mark Humphrey)

Peyton Manning could make practically no extra money from playing in the Super Bowl because of New Jersey taxes.

If Manning and the Denver Broncos lose the Super Bowl, he gets a $46,000 bonus.

But if he plays next season, the New Jersey income tax will take $46,844 of that money--meaning he will actually owe money for playing in the game, according to Forbes.

If Manning wins, then he gets a $92,000 bonus. He will have to pay $46,989 on that bonus if he is able to play next season.

The only way he won’t have to pay that much is if her retires after this season.

His taxes in that case would go down to $1,575 if he wins and $982 if he loses.