By Official Release
Posted Jul 10 2012 9:13PM
NEW YORK -- The National Basketball Association today announced that the Salary Cap for the 2012-13 season will be $58.044 million. The tax level for the 2012-13 season has been set at $70.307 million. Any team whose team salary exceeds that figure will pay a $1 tax for each $1 by which it exceeds $70.307 million.
The Salary Cap and tax level, both of which are unchanged from 2011-12 amounts, go into effect at 12:01 a.m. ET on Wednesday, July 11, when the league's "moratorium period" ends and teams can begin signing free agents and making trades.
The minimum team salary, which is set at 85 percent of the Salary Cap, is $49.337 million for the 2012-13 season.
The current Collective Bargaining Agreement provides for three different mid-level exceptions depending on a team's salary level. The non-taxpayer mid-level for this season is $5.0 million, the taxpayer mid-level is $3.09 million and the mid-level for a team with room under the Salary Cap is $2.575 million.
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