News From Terre Haute, Indiana

February 28, 2014

Olympic medalists could get Indiana tax break


Associated Press

---- — INDIANAPOLIS (AP) — Olympic medalists from Indiana could soon get a tax break on the value of their medals and any prize money.

The Indiana House voted unanimously Thursday to approve a bill that includes exempting those Olympic prizes from state taxes.

The Indianapolis Star reports it would be retroactive to Jan. 1, so it would just apply for now to 19-year-old Nick Goepper of Lawrenceburg for the bronze medal he won in Sochi for slopestyle skiing.

Rep. Terri Austin of Anderson proposed the Olympic tax break, saying the state gives millions a year in tax incentives.

Rep. Thomas Washburne of Evansville questions giving special treatment to Olympic winners when others who get job bonuses must pay taxes.

Goepper is receiving $10,000 from the U.S. Olympic Committee for his bronze medal win.