NBA salary cap and tax level anticipated to go up in 2023-24

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The NBA is expected to raise the salary cap by over $10million for the 2023-24 season, while also increasing the tax level.

The salary cap for the upcoming 2022-23 season has been set at $123.65m, with a tax level of $150.26m.

According to Shams Charania of The Athletic, the league told teams on Friday that the cap is projected to rise to $134m, and the tax level to $162m, a significant rise.

It is also around $1m higher than previous projections made by the NBA in June.

The new NBA season gets underway on October 18 when the Boston Celtics host the Philadelphia 76ers.