NIL FAQ

Get answers to the most common questions about NIL compliance, taxes, contracts, and more. Can't find what you're looking for? Consult your school's compliance office.

NIL Basics

5 frequently asked questions

Compliance & Rules

6 frequently asked questions

Taxes & Money

7 frequently asked questions

Contracts & Negotiations

7 frequently asked questions

Platforms & Opportunities

5 frequently asked questions

Common Concerns

6 frequently asked questions

Important Disclaimer

This FAQ is for informational purposes only and does not constitute legal, financial, or tax advice. NIL rules and regulations vary by state, school, and athletic conference.

Always consult with qualified professionals including your school's compliance office, a sports attorney, tax advisor, or financial planner before making NIL decisions.

NIL regulations are constantly evolving. Stay informed about changes to NCAA rules, state laws, and your school's policies by regularly checking with your compliance office.

Still Have Questions?

Explore our other resources to learn more about maximizing your NIL opportunities.

NIL FAQ

What does NIL stand for?

When did NIL become legal for college athletes?

Can high school athletes participate in NIL?

Will NIL deals affect my scholarship?

How much can I earn from NIL?

Do I need to report my NIL deals to my school?

Can I wear my school uniform or logo in NIL content?

Are there any products or services I can't promote?

Can my coach help me get NIL deals?

What happens if I violate NIL rules?

Can I do NIL deals with my school's sponsors?

Do I have to pay taxes on NIL income?

How much should I set aside for taxes?

Do I need to file quarterly taxes?

What tax forms will I receive?

Can I deduct business expenses?

Should I form an LLC or business entity?

Will NIL income affect my financial aid?

Do I need a lawyer to review my NIL contracts?

What should I look for in a contract?

Can I negotiate the terms of a deal?

How long should an NIL contract last?

What is an exclusivity clause?

Can I get out of a contract early?

What if a brand doesn't pay me?

What are NIL marketplace platforms?

Do I need to use a marketplace platform?

Should I hire an agent or manager?

What is an NIL collective?

How do I build my social media following?

Will NIL distract me from my sport or academics?

What if I don't have a large social media following?

Can I lose my NIL deal if I get injured?

What if my performance declines?

Can I do NIL deals if I'm transferring schools?

What happens to my NIL deals when I graduate or go pro?

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