Wis. GOP Proposal Would Nix State Tax On Olympic Medals

MADISON, Wis. (AP) — Olympic medal winners in Wisconsin wouldn’t have to pay taxes on their winnings under a Republican proposal.

Rep. Joe Sanfelippo and Assembly Speaker Robin Vos said in a news release Monday they’re circulating a bill that would repeal state taxes on Olympic and Paralympic winnings.

Olympic medals are worth a few hundred dollars and come with cash prizes ranging from $10,000 for bronze to $25,000 for gold.

Under the bill, neither the medals nor the cash winnings would be taxed. If passed, the legislation would retroactively apply to 2016 and would be in place for the 2018 Winter Olympics in South Korea.

Former President Barack Obama repealed federal Olympic prize taxes last year.

Sanfelippo’s wife, Rebecca, competed in the 1988 Calgary Winter Olympics.

(© Copyright 2017 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

Comments

Leave a Reply

Please log in using one of these methods to post your comment:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Watch & Listen LIVE