456 contestants, and just one gained a life-changing sum of money. Whereas the stakes in Squid Sport: The Problem weren’t as excessive as its drama counterpart, the 4.56 million {dollars} on the road did make it really feel that approach. However did the winner really bag your entire money prize?
Trailer for ‘Squid Sport’ season 2 launched
On Wednesday’s grand finale, a winner was topped from the three remaining contestants: Sam Lantz (contestant 016), Mai Whelan (287) and Phill Cain (451). The tense present lastly got here to an finish, capping a fantastic TV success regardless of controversy throughout filming.
‘Squid Sport: The Problem’, how a lot cash did winner get after taxes?
‘Squid Sport: The Problem’ was filmed in the UK, a rustic that’s really a tax haven for recreation present prizes. Within the UK, prize earnings are fully exempt from taxes. Nonetheless, given that every one finalists have been US residents, they have been sure by US tax laws.
Sam Lantz, Mai Whelan and Phill Cain attended the watch occasion for Netflix’s “Squid Sport: The Problem” in New York.
The consequence being {that a} British winner would have been lots richer than a participant from the US. Spoiler alert: sadly for Mai, as a US citizen and resident, any incomes over $1,000 is topic to a 37% tax (each regionally and overseas). Subsequently, the IRS is definitely entitled to $1.68 million of her grand prize.
Ultimately, Mai Whelan will be capable to take pleasure in simply $2.8728 million {dollars} of her earnings as a consequence of her lump sum payout possible touchdown her within the highest tax bracket. Which remains to be a life-changing sum, however comes with a really vital deduction. Ultimately, the Inner Income Service was equally as hyped about her profitable as she was.
