SUPER BOWL PLAYERS TAX LIABILITY


Article Posted on 02/07/2019


SUPER BOWL PLAYERS TAX LIABILITY

The New England Patriots bonus for winning the Super Bowl was $118,000.  The losing Rams share was $59,000 each.  Each player received this amount no matter if they played or their position.  In addition, each player received $29,000 for winning their respective divisional round, plus another $54,000 for their conference round wins. 

Assuming that each of the players are in the top 37% federal tax bracket that adds up to a federal tax bill of $74,370 for each Patriot or $52,540 for each of the Ram players.  Plus an additional 1.45%  Medicare Tax.

Wait a second.  We are not done with taxes.  There is also state taxes.    Georgia has a top rate of 5.75%.  The Super Bowl bonus alone will add $6,785 from each of the Patriots and $3,105 for each of the Rams to the Georgia state coffers. 

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