Death, Taxes, and coming in under par

[cid]

Lefty discovers just how expensive it is to win big...

[Rommie]

There's a solution here of course: don't play in a Scottish tournament if you don't want to pay their 45% tax rate.

Not exactly a big shocker that taxes are so high around here- Holland attracts foreign skilled workers by promising them a "33% rule" which is considered a steal, for example (though I as a student unfortunately do not qualify).

[SciFiFisher]

I was a little shocked to discover that California was hitting him for almost 14% of his income.

[Rommie]

Yup- it's why folks with money complain about living in California, and why they have folks moving out to Nevada and Arizona.

[geonuc]

Having moved from California to Atlanta, I perceive the taxes aren't all that much different, when you consider them all.

[Parrothead]

I wasn't too surprised about the taxes on the winnings, what got me was the bit about his having to pay UK taxes on the endorsements, that had scottish subsidiaries, not to mention taxes on income due to any rise in the standings and subsidiary prizes/endorsements coming from the win. His win in the British Open was spectacular, having played in the Scottish Open the week before definately helped with reading and understanding the greens and the delicate touch needed, vs. the regular PGA events in the US. He got a nice Claret Jug to put on display in his home.