Goepper May Get Tax Break On Olympic Earnings

February 28, 2014
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Nick Goepper could get a tax break on medals and prize money  earned at the winter games.

Nick Goepper could get a tax break on medals and prize money earned at the winter games.

Nick Goepper has a bronze medal but may have struck gold when it comes to taxes from the winnings.

The Indiana House voted Thursday to exempt Olympic medals and prize money from income taxes in Indiana.

According to The Indianapolis Star, The tax break would be retroactive to Jan. 1, so for now, the only person that the measure would apply to is Goepper, the 19-year-old Lawrenceburg native who won a bronze medal in slopestyle skiing in Sochi, Russia.

In addition to the bronze medal, Goepper will receive $10,000 from the U.S. Olympic Committee. Gold winters receive $25,000 and silver medallists take home $15,000.

The bill that passed was amended, so Senate and House leaders will meet to figure out the differences between the two versions before it would go to the governors desk for approval.

 

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