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Only on Gold. Olympic gold medals are made up of about 4,000 dollars worth of gold, depending on the year. Seeing that gold is a form of currency (in the united states at least), they would be expected to pay the Gold Standard Tax, enacted in 1980 in order to keep gold as a viable currency in the United States. Luckily, the United States government pays its own athletes a larger sum, so there is never really a problem.
Wiki User
∙ 11y ago
Wiki User
∙ 10y agoGold medal winners pay the same taxes every other citizen pays.
Wiki User
∙ 11y agoIt differs from country to country, but a Gold Medal in the USA gets a $25,000 payment, and the average tax on that is about $9,000.
Wiki User
∙ 11y agoThere is no monetary prize with Olympic medals therefore there is nothing to tax.
Wiki User
∙ 11y agoyes, on every medal they win they have to pay taxes on it.
Wiki User
∙ 11y agoits because there normal people too
Wiki User
∙ 11y agono
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How much tax does the American Olympians have to pay for their medals?
$9700.
Do Olympians pay taxes for gold in medals?
No they don't, it is simply a reward.
Do you have to pay taxes if you win an Olympic medal?
Yes, Olympians must pay taxes on their medals as of now. However, they also receive money for winning medals too. Currently Congress is debating whether Olympians should have to pay taxes.
Do gold medal winners pay taxes on their winning?
Unfortuneatly, the olympians from the USA do have to pay taxes on the winnings from the medals awarded.
What did the Olympians receive when they won an event?
they win medals
Do Olympians pay taxes on money paid to them by the us Olympic committee for winning?
9,000 tax if gold is won
How much tax do Olympic winners pay on the medals gold silver and bronze?
nothing
What fruit did early greek Olympians wear as medals?
grapes
Why do modern Olympians receive medals instead of laurels?
meh
Do Olympians receive a tax exemption?
No.
What year did they pass the tax on Olympians?
2012
Do Olympians pay the travel fees?
No
