Tax Burdens Dull 2016 WSOP Main Event Final Table Winnings
Tax burdens can cut poker winnings in half. And that��s exactly what they��ll do, even in tournaments as large, and with as big a payout, as the 2016 World Series of Poker final table.
Then, once you move into tournament backers who receive a part of the action from investors to lower player risk, players only see a portion of their winnings.
In a post titled, ��The 2016 Real Winners of the World Series of Poker,�� Russ Fox of Clayton Financial and Tax in Las Vegas, divvies out the winnings, based on how much is taken out, location and what the player will receive after taxes.
| Player | Location | Place | Percentage Lost | Winnings Before Taxes | Winnings Lost | Estimated total |
| Qui Nguyen | Las Vegas, NV | 1st | 41.51% | $8,005,310 | $3,324,157 | $4,681,153 |
| Gordon Vayo | San Francisco, CA | 2nd | 51.46% | $4,661,228 | $2,398,800 | $2,262,428 |
| Cliff Josephy | Long Island, NY | 3rd | 48.40% | $3,453,568 | $1,674,568 | $1,779,000 |
| Michael Ruane | Maywood, NJ | 4th | 45.75% | $2,576,003 | $1,178,525 | $1,397,478 |
| Vojtech Ruzicka | Prague, Czech Republic | 5th | exempt, flat 15% income tax | $1,935,288 | $290,293 | $1,644,995 |
| Kenny Hallaert | Hansbeke, Belgium | 6th | 0% (no tax on gambling wins) | $1,464,258 | $0 | $1,464,258 |
| Griffin Benger | Toronto, Ontario, Canada | 7th | 30% withheld for U.S. income tax | $1,250,190 | $370,057 | $875,133 (can file return to recover losses) |
| Jerry Wong | Margate, Florida | 8th | 38.16% | $1,100,076 | $419,776 | $680,300 |
| Fernando Pons | Palma, Spain | 9th | 45% | $1,000,000 | $449,584 | $550,416 |
Here��s a table from the post:
| Amount won at the final table | $25,445,388 |
| Tax to IRS | $8,108,024 |
| Tax to Franchise Tax Board (CA) | $623,262 |
| Tax to Agencia Tributeria (Spain) | $449,584 |
| Tax to New York Dept. of Taxation and Finance | $422,752 |
| Tax to Finan?n�� Spr��va (Czech Republic) | $290,293 |
| Tax to New Jersey Division of Taxation | $215,845 |
| Total Tax | $10,109,760 |
