Should NJ Olympians be Tax Free? [POLL]
If NJ Assemblywoman Donna Simon has her way, NJ Olympians will be seeing one less tax bill than the rest of the NJ residents.
Simon along with two others, will introduce a bill to make NJ Olympians medalists exempt from the ‘Olympic Tax.’
Currently, Olympic medal winners are taxed on the value of the medal and their monetary winnings, which consist of $25,000 for a gold medal, $15,000 for silver and $10,000 for bronze.
New Jersey had over 10 medal winners during the 2012 Olympics, including four from the Women’s US Olympic Soccer Team.
Do you think it’s fair that they should be taxed on their medals?
Take our poll below and let us know what you think.