New York, NY – The NBA's salary cap and tax level will remain at the same numbers as last season, the league announced Tuesday night.
The salary cap was set at $58.044 million again for the 2012-13 season. Teams would pay a $1 penalty for each dollar they go over the $70.307 million tax level.
The numbers go into effect one minute past midnight on Wednesday, which is when teams can begin officially signing free agents and making trades.
The minimum team salary is set at 85 percent of the salary cap, or at $49.337 million.