Phil Mickelson Taxed an Insane 61% of Earnings From Scottish Open, British Open
Phil Mickelson once said he might move out of the state of California, but after 61 percent of his recent earnings were taken out in taxes, Scotland won’t be on his list of possible destinations.
Great Britain still collects taxes in Scotland and that will remain the case until 2016, and both the Scottish Open and British Open tournaments were held there this year. Mickelson won both of the events in the past two weeks, totaling over $2.1 million in earnings. After taxes, he will actually collect $842,700.
So why the ridiculous cut? A report by Forbes magazine states “UK is one of the few countries that collects taxes on endorsement income for nonresident athletes that compete in Britain.” So the country is taking 45 percent of Lefty’s earnings for the two tournaments.
On top of that, Mickelson’s home state of California is taking another 13 percent with the final three percent going to the U.S. government in federal taxes. So basically, being a professional athlete isn’t all it’s cracked up to be, but it’s still pretty close.
The money Mickelson actually took home from just two weeks of “work” is more than most people make in a decade, so he won’t be getting much sympathy from golf fans around the world, but he’s on top of it in his sport and might be for the next few tournaments this year, including the final major: the PGA Championship.
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