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World Series Of Poker Runner-Up To Pay More Than Half Of Winnings In Taxes To Norwegian Government

Felix Stephensen Reportedly Has Not Lived In London Long Enough

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The Norwegian government also finished runner-up in the World Series of Poker main event and it didn’t even have to buy-in.

Second-place finisher Felix Stephensen will lose slightly more than 50 percent of his $5.14 million in winnings, according to a report from English-language Norwegian news portal The Local.

Though me moved to London, Stephensen reportedly has not lived outside of Norway for long enough to be exempt from the country’s tax. The report said that he has only lived in in the U.K. for 2.5 years, six months short of the requirement.

Norway has had strict anti-online poker laws, but it is easing up on those.

The fact that he is a professional poker player is the reason why the tax is so high, the report added.

For the average Norwegian, the prize money would be eligible to 27 percent tax. For Felix Stephensen, the situation is different. He is registered as a professional poker player and will therefore be taxed like any other self-employed person would.

He can write-off expenses for playing the event, though.

 
 
 
 

Comments

Zack2
over 4 years ago

better than no money at all but what crap. ron swanson would be pissed

 
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cardplayer1222
over 4 years ago

He (Stephensen)may want to be US resident since the maximum federal tax rate in US is around 36%.

 
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angryjohn
over 4 years ago

Max Rate is 39.6%, plus 15.3% self-eployment on first $117k, 2.9$ after that. PLus Obama Tax of 0.9%.More like 43.4% total.

 
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