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.
Gold medal winners pay the same taxes every other citizen pays.
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.
There is no monetary prize with Olympic medals therefore there is nothing to tax.
yes, on every medal they win they have to pay taxes on it.
its because there normal people too
no
$9700.
No they don't, it is simply a reward.
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.
Unfortuneatly, the olympians from the USA do have to pay taxes on the winnings from the medals awarded.
they win medals
9,000 tax if gold is won
nothing
grapes
meh
No.
2012
No