NBA Salary Cap 2013: League Sets Team Limit at $58.679MBy Alex Jusi Madlangbayan on Jul 10, 2013 in Basketball, Sports •
The 2013 NBA salary cap limit of $58.679 million was announced by the league on Tuesday, July 9, 2013, as reported at NBA.com.
According to the report, the NBA has pegged the tax level at $71.748 million.
During the 2012-13 NBA season, the salary cap was 58.044 million with tax level at 70.307 million.
The new NBA salary cap will take effect starting Wednesday at 12:01 a.m. ET. This also signals the end of the “moratorium period” in signing free agents and making trades for all NBA teams.
Starting next season, the minimum NBA team salary will increase from 85 percent to 90 percent of the salary cap.
Due to the new NBA salary cap, there will be a new tax rates table for the incremental spending above the tax level. Below is the new tax rate schedule:
- Portion of team salary $0-$4.99 million over tax level: $1.50 for $1
- Portion of team salary $5-$9.99 million over tax level: $1.75 for $1
- Portion of team salary $10-$14.99 million over tax level: $2.50 for $1
- Portion of team salary $15-$19.99 million over tax level: $3.25 for $1
* Rates increase by $0.50 for each additional $5 million of team salary above the tax level.
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