After-tax Winnings: How Much Does the Squid Game Winner Receive?
Discover the ultimate revelation: the actual prize money the Squid Game winner claims after tax deductions Satiate your curiosity now that the Squid Game: The Challenge finale has landed on Netflix
With the finale of Squid Game: The Challenge now available on Netflix, many are curious about the amount the winner receives after taxes. Here's what we can tell you. After three weeks and ten episodes, the thrilling series has finally come to an end.
The latest season of Netflix's reality TV show Squid Game broke records with the largest number of contestants and the biggest cash prize in the genre's history. The lucky winner will walk away with a staggering $4.56 million, although a significant portion will need to be allocated for taxes. Warning: Major spoilers ahead!
How much does Squid Game winner take after taxes?
Following her victory in Squid Game: The Challenge, Player 278, also known as Mai Whelan, as a US citizen, is obligated to pay taxes on the prize of $4.56 million. If she chooses to receive the amount as a lump sum, she will be subjected to a federal income tax rate of 37%, resulting in a net income of just over $2.87 million.
Despite being filmed in the UK, winners of the Netflix show are still required to pay taxes in their home country on their prize money. In the US, game show winnings over $600 are considered taxable income by the IRS. With a prize of $4.56 million, Mai's winnings would likely put her in the highest tax bracket of 37%, a fact that has become the subject of online jokes.
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According to Marca, this amount "still represents a life-changing sum, but comes with a substantial deduction. Ultimately, the Internal Revenue Service was just as excited about her win as she was."
Squid Game: The Challenge is available to stream on Netflix now. You can check out more of our coverage below:
Editor's P/S
As a Gen Z netizen, I am fascinated by the concept of Squid Game: The Challenge and the massive cash prize it offers. The idea of competing in life-or-death challenges for a life-changing sum of money is both thrilling and terrifying. However, the reality of taxes puts a damper on the excitement. Learning that the winner, Mai Whelan, will only receive a little over $2.87 million after taxes is a bit disappointing. It's understandable that governments need to collect taxes, but it still feels like a significant chunk of the prize money is being taken away.
On the other hand, I can't help but feel a sense of admiration for Mai Whelan. She managed to overcome numerous challenges and emerge victorious in a competition that pushed her physical and mental limits. Even though she won't receive the full $4.56 million, the remaining amount is still life-changing and will undoubtedly have a profound impact on her life. I hope she uses her winnings wisely and makes the most of this incredible opportunity.
