Quote:
Originally Posted by parisron
Yikes.
"First place was a cool $12.1 Million. Mr. Weinman owes federal and state income tax and self-employment tax on his winnings. I estimate he will pay $4,831,195 to the IRS and $690,777 to the Georgia Department of Revenue (45.64% lost to taxes)."
There could have been a deal in place, but I don’t think there absolutely had to be one due to all of complexities including these tax issues. For example, Walton has no state tax
There would have to had been a lot of number crunching that night and maybe drafting a bunch of documents. People say they “chopped” implying they just split the money but chip leader probably wouldn’t have taken that. Then add in tax complexities.