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Originally Posted by ESPN
The NBA has set next season's salary cap at $58.7 million, paving the way for contracts to be signed starting Wednesday.
The tax level is $71.7 million, with harsher penalties starting this season for teams that exceed it. Teams formerly paid $1 for every $1 they were over, but the penalties now start at $1.50 for teams up to $4.9 million over, with increases from there.
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6 teams ended up paying the tax penalty for last season with the Lakers $30 million being the most.
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Originally Posted by ESPN
Team - Tax Payment
Lakers - $29,259,739
Heat - $13,346,242
Nets - $12,883,647
Knicks - $9,962,406
Bulls - $3,932,336
Celtics - $1,181,640
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To put it into perspective how huge the changes are going to be for the next billing, the Nets paid $13 million this year while next year their bill currently is around $75 million.