Jaxon Smith-Njigba just finished a historic 2025 season, catching 119 receptions for a league-high 1,793 yards and 10 touchdowns, helping the Seattle Seahawks win Super Bowl LX.
In return, Seattle offered him a massive four-year, $168.6 million extension. The dealmakes him the highest-paid receiver in NFL history, averaging $42.15 million per year with over $120 million guaranteed.
On paper, that number is extraordinary. In practice, the IRS and the state of Washington have something to say about it that no player will like hearing.
Jaxon Smith-Njigba’s record payday shrinks to $24M due to huge tax rule
The math is scary here. According to the report, Jaxon Smith-Njigba’s $42.15 million average salary results in federal taxes of $15.5 million. Add $1 million for FICA and another $1.26 million for his agent’s fee, and his total deductions hit $17.8 million. That leaves him with about $24.3 million in net earnings, cutting almost 42% before he even sees a paycheck.
Seattle Seahawks, Jaxon Smith-Njigba
Jan 25, 2026; Seattle, WA, USA; Seattle Seahawks wide receiver Jaxon Smith-Njigba (11) celebrates after scoring a touchdown against the Los Angeles Rams during the first half in the 2026 NFC Championship Game at Lumen Field. Mandatory Credit: Steven Bisig-Imagn Images
Washington has always been a tax haven for athletes because it lacks a state income tax, but that’s about to change within a few years. Lawmakers recently passed a 9.9% tax on income over $1 million. Set to start in 2028, the “millionaire tax” could push Seattle’s top tax rate to over 18%, the highest in the country.
🚨HEARTBREAKING🚨#SEAHAWKS WR JAXON SMITH-NJIGBA ONLY MAKES 24 MILLION DOLLARS AFTER TAXES, DESPITE SIGNING A $42.15 MILLION DEAL.
Federal: $15,589,250
FICA: $1,001,443
Agent fee: $1,264,500
Tax: $17,955,193
Net Income: $24,194,807
This is before the Seattle millionaire tax. pic.twitter.com/8feB0AkA4h
— MLFootball (@MLFootball) March 23, 2026
While the law faces certain legal challenges, Governor Bob Ferguson plans to bring it on board. Once it kicks in, the state will take an extra $4 million a year, potentially dropping his take-home pay to $20.2 million. Since Smith-Njigba’s deal runs through 2031, he will be among the first major athletes to feel the impact of this legislative shift during the prime of his contract.
As the reigning Super Bowl champions, the Seahawks now face the task of maintaining their core around Smith-Njigba, who will be under contract with Seattle through the 2031 season.
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Smith-Njigba was especially dominant in the NFC Championship Game against the Los Angeles Rams, catching 10 receptions for 153 yards and a touchdown — before helping Seattle lift the Lombardi Trophy.
He’s the unquestioned WR1 on the roster, and tosupport him, Seattle has already extended left tackle Charles Cross and picked up the fifth-year option on cornerback Devon Witherspoon.