http://www.hoopsworld.com/Story.asp?story_id=9422 <div class='quotetop'>QUOTE </div><div class='quotemain'>Time to Pay Up NBA teams that finished with a payroll above $67.865 million last season will be required to pay one dollar of luxury tax for every dollar they sit over the aforementioned threshold. Payment must be made by no later than July 23rd. The tax is calculated based on all player salaries paid out for the 2007-08 season. What that means is if a player was traded mid-season, the amount the team paid him up until the day he was traded counts against the his original team's cap number. A total of eight teams will have to pay the tax including: New York, Dallas, Cleveland, Miami, Denver, Boston, Phoenix and the Los Angeles Lakers. Of those eight teams, six qualified for the postseason. The two teams that didn't, you ask? You guessed it, the New York Knicks and the Miami HEAT. Ironically, the Knicks will also have to pay an estimated $20 million in luxury tax which is more than any other team. And the Isiah Thomas legacy lives on. Here's a look at how much each team over the luxury tax threshold will pay out: New York Knicks $19,723,946, Dallas Mavericks $19,613,295, Cleveland Cavaliers $14,008,561, Denver Nuggets $13,572,079, Miami HEAT $8,318,879, Boston Celtics $8,218,368, Los Angeles Lakers $5,131,757 and the Phoenix Suns $3,867,313. The entire pot -- which totals nearly $92.5 million -- will be distributed to the 22 non-tax paying teams and the NBA. Each non-taxpaying team will get 1/30th of the pot, while the other 8/30ths will go to the NBA for what is defined as "league purposes."</div> Money well spent in the C's case. I'm sure they made good money playing so many games these playoffs too
