How much tax does a Masters champion pay? A Green Jacket comes at a cost!

Winning the Masters comes with many perks.

First up, there is the glory of triumph and of conquering Amen Corner.

There is also the thrill of defeating a world class field and becoming a major champion (or maybe a multiple major champion).

The successful golfer also earns the admiration of the watching world.

There’s the small matter of a toe-curling visit to the Butler Cabin and a new addition to the wardrobe in the form of a Green Jacket.

Should you ever win at Augusta National, you’ll also now have an invitation for life and a guaranteed spot at the Champions Dinner.

Throw in confirmed starts in future PGA Championships, US Open and Opens.

And don’t forget enhanced and new sponsorship deals, plus other money-making opportunities.

Oh yes, there’s also the small matter of prize money.

It’s not the most lucrative tournament in golf but it’s still life-changing (well, for most people – for many elite golfers it will just be a case of adding millions to many other millions).

Last year, for example, Scottie Scheffler won $3.6 million.

So far, so good.

But Scheffler has to deal with tax, of course.

Last year he paid $1,332,000 in federal tax (37%) and $205,200 in state tax (5.7%) which comes to $1,537,200 and means a take home pay of $2,062,800.

Scheffler doesn’t live in Florida like many golfers, who reside in that state because it has no state income tax.

According to a report by AskGamblers.com the Federal government has raised over $9.2 million from the Masters winner alone.

Meanwhile the state of Georgia has earned over $1.4 million from those same winners.

The Masters also works in the favour of Georgia in many other ways.

Millions of sports fans from across the world watch the tournament every year and become fascinated by the course and the state.

Then there are an estimated 200,000 people who venture to Georgia every year, some from elsewhere in the United States, many others from across the world.

These people spend a lot of money on hotels, hire cars, internal flights, food, drink, playing sport, visiting sites and many other activities.

That is why the tournament is believed to put over $200 million into the local community.

Hotel rooms alone explode in cost from around $100 a night to nearer $900.

The amazing thing is that Augusta is actually a city with a population of 200,000 in the first place!

READ MORE: What do you get for winning The Masters?