Go Back to the B3 Home Page
Complaints, compliments, arguments? Email me.
[<< "'Let's you and him fight.'"] [Archive Index] [>>"Calling Miss Cleo..."]
07/03/2003 Archived Entry: "Since it worked so well for bin Laden..."
Since it worked so well for bin Laden...
CNN has just reported that the US is offering a $25 million bountry for the head of Saddam, and $15 mill a piece for his two sons.
In other news, the $25 million bounty for Osama bin Laden remains unclaimed.
Replies: 3 people speak up
This may sound a bit inappropriate, but being a "financial" person I began to wonder about the tax implications of this reward.
Now suppose I provide information which results in the capture of either Osama or Saddam. That means I'm entitled to that $25m bounty. Is that reward taxable? Is it subject to Federal, State, and Local income taxes? Is it subject to the AMT (alternate minimum tax)?
Any ideas?
Posted by Metropolitan99 @ 07/03/2003 01:54 PM NY
What I'm wondering is whether or not the bounty is paid in one lump sum, or is it spread out over twenty years or so? Can I leave it to my children? Do I get bonus money for finding Saddam and Osama in the same place? Can I get a free Bahamanian account to keep my reward money in(make me feel like a big time republican)?
Do you think Saddam would give me 26 million NOT to turn him in?
Posted by MercuryX23 @ 07/03/2003 02:19 PM NY
Hey, Merc, you must be a finance guy yourself. I too was wondering if you get a lump sum distribution or an annuity.
Also, that's a great idea of setting up an "informer's auction." You could go back and forth between the US goverment and Osama/Saddam. If Saddam counter-offers with $26m, then you ask the US to top that. But if I were you, I'd use $5m increments minimum (I used to work at an auction house --really).
Posted by Metropolitan99 @ 07/03/2003 04:13 PM NY
