According to TheLocal.no, there’s a massive tax bill awaiting 2014 World Series of Poker Main Event runner-up Felix Stephensen (pictured). The winner of $5.1 million in the Las Vegas tournament, Stephensen, who calls Norway home, will reportedly be taxed at a 50.4% rate, which is almost $2.6 million in real money.

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According to the site, “Even though Stephensen lives in London in the UK, he must still pay Norwegian tax… For the average Norwegian, the prize money would be eligible for 27% tax. For Felix Stephensen, the situation is different. He is registered as a professional poker player and will therefore be taxed like any other self-employed person would.”

Self-employed members of society must pay a social security contribution on top of the 27%. Additionally, TheLocal.no says Stephensen will have to pay a “surtax,” pushing the grand total to 50.4%. However, he’ll be able to deduct expenses associated with his Las Vegas trips, which could push the price tag down a bit.

Interestingly, Stephensen is just six months away from a major tax break because he lives in the UK. As TheLocal.no explained, “After three years living outside of Norway (pictured) and if they fulfill a criteria set out by Norwegian law, a person is no longer eligible for tax. Stephensen has only lived in London for two-and-a-half years.”

Any poker winnings above $150 are subject to tax in Norway.

According to WSOP officials, Stephensen plays online poker under the handle FallAtyourFeet and said that he wanted to help legitimize the game in his home country: “I really hope I can make poker a more accepted sport or profession in Norway and I’d like to be a good ambassador for the sport.”

As outlined by the Hendon Mob, Stephensen is Norway’s all-time money leader despite having just three cashes outside of the WSOP Main Event. He is #4 on the 2014 money list worldwide and #111 all-time.

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