Contractors must use the formats provided in the below Post Award Exhibits. Contractors are required to justify their Economic Price Adjustment (Clause 552.216-70), Price Increases above 10% and 25% for paper products with letters from their suppliers or any other sources that are applicable.
Previously, the victory tax was applied to all medalists' reward money and the value of their medals. During the last Olympics, gold medalists received a sum of $25,000, silver medalists raked in $15,000, and bronze winners collect $10,000 â all of which were taxed as income. Meanwhile the value of medals were roughly $600 for gold, $300 for silver, and only $4 for bronze (which are mostly made out of copper).
When NBA stars like the Cleveland Cavaliersâ LeBron James and the Los Angeles Lakersâ Kobe Bryant play road games in states that levy income taxes, not only do they leave behind enduring images of slam dunks and buzzer beaters, they also leave behind large chunks of their paychecks in the form of âjock taxes.â.