What Do The 'Amazing Race' Winners And Runners-Up Get? Winnings After Taxes

"Amazing Race" fans are about to watch a whole new crop of teams vie for the chance to win a big cash prize after completing a series of unique, fun and sometimes frustrating tasks in a race around the world. However, what fans may be surprised to learn is that while the first team to cross the finish line in the last leg doesn't necessarily win what the show claims.

Like the winners of the previous 29 seasons of the show, the Season 30 winners will find themselves being told they're winning $1 Million by show host Phil Keoghan. However, state, federal and local taxes are likely to cut that number down greatly, meaning that the team that wins will be seeing an amount that is less than the total prize. They are also expected to split their winnings, meaning the amount of money each person does walk away with is even smaller.

In addition, the prizes teams win for coming in first on previous legs—which can include cash, trips and cars—are also taxed, according to Season 21 competitor Mark "Abba" Abbattista. Abbattista, who placed 6th with his teammate James during that season, won trips to Antigua and Malaysia before being eliminated.

Even more surprising however may be the fact that teams actually do still win some money even if they don't cross the finish line first. While the amounts may have since changed, back in 2005, Today looked into what the contestants on the show received, and a former Season 6 competitor reportedly revealed that teams are paid a prize on a sliding scale, and what they take home depends on how far they made it in the competition.

At the time, it was revealed that the team placing 11th and eliminated first was given $1,500. From there, the amounts increased to: $2,500; $3,000; $3,500; $4,000; $5,000; $6,00 and $7,000 for each additional leg and elimination.

As for the three teams that make it to the final leg, the ones who place third see their prize increase to $10,000, while the runners-up received $25,000. All prize amounts, like the $1,000,000, are divided equally between the team members.

Those prizes are also subject to the same taxes.

"The Amazing Race" Season 30 premieres Wednesday, Jan. 3 at 8 p.m. EST on CBS.