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post #20 of (permalink) Old 11-28-2006, 07:54 PM
country flag zicofirol
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Join Date: Jan 2006
Posts: 3,134
Re: Are prize money subject to tax?

Originally Posted by ezekiel View Post
Florida and Monte Carlo don't have income tax so I guess many players live there as well as Miami and MC tournaments are well placed and covered . But other parts of Europe have insane taxes to fund those socialist programs especially scandinavia, germany and france . Most American players are reluctant to play there
they dont live there because of that, for the most part, because you still have to pay the USA tax and for what they are earning I think its around 35% of their income.

A player must pay taxes wherever he plays(because he earned money in that country) and then might get taxed double by his native country...

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