NBA Sets Salary Cap For 2012-13

February 25, 2012; Orlando FL, USA; NBA commissioner David Stern (right) and deputy commissioner Adam Silver address the media at the Amway Center in Orlando. Mandatory Credit: Kim Klement-US PRESSWIRE

The NBA has announced the salary cap number and the tax level for the 2012-13 season.

As NBA teams are trying to fill out their rosters and complete blockbuster trades, the NBA has finally announced the salary cap for the upcoming 2012-13 season. The salary cap for the 2012-13 season has been set at $58.044 million for each team and the tax level has been set at $70.307 million.

Teams have been negotiating with free agents the over the past week, but can officially sign players on Wednesday, July 11, and now know how they can fit players in under the cap. The cap and the tax level are both exactly the same as they were for the 2011-12 season, which is what was expected.

Now that the levels are official and have been announced by the league, some teams who were wondering if they should use their amnesty clauses on players have a baseline for their salaries and can move forward.

For more on the 2012 NBA Season stay tuned to SB Nation's dedicated NBA hub.

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