Breaking Down The Top 20 College Football Stars’ 2025 NIL Tax Bills

AUSTIN, TEXAS – SEPTEMBER 21: Arch Manning #16 of the Texas Longhorns drops back to pass in the first quarter.

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The 2025 college football season is upon us, with the University of Texas as the pre-season top-ranked team according to the AP rankings. As documented by Opendorse, the money that college athletes earn from their Name, Image, and Likeness last year has eclipsed $1.6 billion with “no signs of slowing down”. However, with big earnings comes big tax bills. This article highlights the 20 college football players with the most lucrative NIL valuations and breaks down what these athletes can expect to pay in taxes in 2025.

The Taxation Of NIL

Following the U.S. Supreme Court’s decision in O’Bannon vs. NCAA, college athletes were permitted to earn money related to their NIL. This decision led to the NCAA implementing rules that went into effect, paving the way for athletes to do this without sacrificing their eligibility to play collegiate sports.

Athletes are now deriving income from many sources. For instance, athletes are now permitted to serve as spokespeople for companies by appearing in commercials, much like quarterbacks Arch Manning and Garrett Nussmeier, who recently appeared in a commercial for the restaurant chain Raising Cane’s, according to SI. Other income can be derived through the receipt of intangible benefits, such as a free car lease. In fact, CBSSports reported that the entire University of Utah’s men’s and women’s basketball team and the gymnastics team all received complementary leased vehicles for the 2023-24 season. However, what most commonly generates NIL income is the simple name recognition of the athlete through signing autographs, making appearances, or selling personally licensed apparel.

Like any other source of income, income derived from NIL is subject to taxation. As these deals are becoming increasingly lucrative, athletes earning NIL income are now facing significant tax bills.

Top 20 College Football NIL Valuations In 2025

On3 provides an algorithm that estimates an athlete’s NIL valuation. Of note, this is not an exact amount as NIL deals are typically not disclosed publicly. However, their valuations provide a baseline estimation for what some of the top college athletes can expect to earn over the next 12 months.

Below is a table that outlines On3’s top 20 highest college football NIL valuations for 2025. On3 provides the data on the name, team, position, and NIL valuation. Using this NIL valuation, one can calculate the federal income tax, state income tax, and total tax owed. Notably, in this table NIL valuations are treated as taxable income, meaning they do not factor in any possible deductions for business expenses or personal deductions (for example, the standard or itemized deduction). The calculations treat all athletes as single taxpayers with no dependents. Finally, the calculated taxes owed pertain only to income taxes, excluding property, sales, and jock taxes.

Quarterbacks Lead The Way With High NIL Valuations And High Tax Bills

It is no surprise that the player with the top NIL valuation in 2025 is none other than Arch Manning, quarterback for the pre-season top-ranked University of Texas Longhorns. Even if one is not familiar with this athlete, the name likely rings a bell, as Manning is the grandson of legendary quarterback Archie Manning and the nephew of Super Bowl-winning quarterbacks Peyton and Eli Manning. Manning’s $6.8 million NIL valuation is over 50% higher than Carson Beck (quarterback for the University of Miami), and their valuation aligns with paying federal income taxes of $2,474,186 and $1,549186, respectively.

What is somewhat unique about these two athletes is that they pay no state income tax. In total, nine U.S. states do not levy taxes: Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, and Wyoming. Thus, high-NIL-earning athletes in these states will pay income taxes to the U.S. and not their own state. This same notion applies to Josh Hoover (TCU quarterback and number 14 on the list). As I previously reported in Forbes, the ability to not pay state income taxes on NIL earnings can result in significant tax savings, as many athletes on this top 20 list must pay six figures annually to their state.

ForbesArch Manning’s $6.5 Million NIL Valuation Includes A Big Tax AdvantageBy Nathan Goldman

The First Year Of Arkansas Exempting NIL From State Income Tax

Taylen Green (Arkansas quarterback and number 18 on the list) also does not pay taxes to his state in 2025. The reason for this is that, in 2025, Arkansas became the first state to levy a tax on income to pass a law that exempts tax on NIL earnings. As I reported in Forbes, many schools have felt that their state income tax laws put them at a disadvantage when recruiting talent compared to schools in states without an income tax, leading to pressure on the state legislature, and, ultimately, the passage of this novel tax law.

While Arkansas is the first state to pass such a law, they were not alone in considering such a change. Other states, such as Alabama, Georgia, Louisiana, and North Carolina, also considered such legislation. For athletes like Garrett Nussmeier (LSU quarterback and number 4 of the list), Ryan Williams (Alabama wide receiver and number 13 on the list), CJ Bailey (NC State quarterback and number 16 on the list), and Jackson Arnold (Auburn quarterback and number 20 on the list), their state not passing a similar law to Arkansas this year impacts their estimated tax liability close to or above six figures.

ForbesArkansas Makes NIL Income Tax-Exempt. Will Other States Follow?By Nathan Goldman

Nico Iamaleava’s Curious NIL Tax Liability Increase

UCLA quarterback Nico Iamaleava checks in at number 19 on the list of the top NIL valuation football players for the 2025 season. Despite being toward the bottom of the list, he has the highest state income taxes owed, with $237,394 expected to be levied against the state of California based on his $2 million NIL valuation. The reason for this is that California has the highest statutory state tax rate in the U.S., where the state taxes income over $1 million at a staggering rate of 13.3%. To put Iamaleava’s tax liability into context, his NIL valuation suggests he will pay more in taxes with an expected $935,580 in 2025 than Hoover ($846,186) and Caleb Downs ($928,720, Ohio State safety and number 15 on the list), despite having a $400 thousand lower NIL valuation than either other the other two athletes.

What makes Iamaleava’s situation even more curious is that he transferred this past offseason from the University of Tennessee to UCLA. The state of Tennessee does not levy an income tax. Assuming his NIL valuation did not change, this means that the $237,394 in taxes he will now owe to the state of California are all incremental taxes.