Edited sentence: Although the league-wide revenue increased by 2.5% in the previous season, the decrease in the salary cap and tax level was the result of the formula used to set the cap and tax under the terms of the collective bargaining agreement.For the 2008–09 season, the salary cap was set at $58.68 million ($0.98 million), while the tax level was $71.15 million ($1.23 million).On July 7, 2009, the NBA announced that the salary cap for the 2009–10 season would be $57.70 million and would go into effect on July 8 as the league's "moratorium period" had ended and teams could begin signing free agents and making trades.The mid-level exception was $5.854 million for the season and the minimum team salary, which was set at 75% of the salary cap, was $43.275 million.The tax level for the season was set at $69.92 million, with each team paying a $1 tax for each $1 by which it exceeds $69.92 million