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It 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.

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โˆ™ 2012-08-03 02:31:41
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Q: How much Do olympic medal winners pay taxes for medals?
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Related questions

Do Olympic medal winners pay taxes on their medals?

Yes


Do Olympic gold medal winners pay taxes on their medals?

Here in Britain the answer is no


Do the olympic gold medal winners have to pay taxes on the medal?

Yeah, $9,000.


Do olympic athletes have to pay taxes on their medals?

yes, on every medal they win they have to pay taxes on it.


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.


Do gold medal winners pay taxes?

Gold medal winners pay the same taxes every other citizen pays.


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 US Olympic medalist pay taxes on medals?

yes


Do US athletes receive monetary rewards for winning Olympic medals?

Yes, the US Olympic Committee gives cash awards of $25,000, $15,000, and $10,000 to winners of gold, silver, and bronze medals, respectively. Athletes, as of now, still have to pay taxes on their winnings.


Do they have to pay taxes on their olympic medals?

Only U.S. Olympic athletes are liable to pay income tax on medals earned and prizes received at the London games. Under U.S. tax law, they must add the value of their Olympic medals and prizes to their taxable income. At today's commodity prices, the value of a gold medal is about $675. A silver medal is worth about $385 while a bronze medal is worth under $5. There are also prizes that accompany each medal: $25,000 for gold, $15,000 for silver, and $10,000 for bronze.


How much do Olympic Metal winners pay in taxes?

If u win gold you will pay over 5k in taxes


What prize was won in the Olympics?

If you mean what is the prize awarded for coming first in the Olympic games, this would be the gold medal. The medals awarded in each event are: Gold - first Silver - second Bronze - third In the ancient Olympics, winners were awarded a branch of wild olive. Sometimes the government would allow an Olympic champion to live in a special building that was only for distinguished citizens. Other winners would be exempt from paying taxes for winning an event in the ancient Olympics.

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