What is the most common way you guys split the winnings that you win in a tournament? I assume 50/50 when its cash but what if its merchandise, like boat, truck, boat and truck.
What do y'all do?

You think the way I do, he needs to buy your half of the boat, truck, etc.. His logic does not compute with me.

he must take you for a FOOL.

Hopefully all team partners understand how expenses and taxes work, and how to split winnings.

+1
I have learned first hand how this can become a very ugly situation.

You really need to get all that worked out before you find yourself in that situation. If you can't come together on the splitting of any winnings then find a new partner.

He would have to buy your half. It's a voucher with a set value... it's no different than winning cash. He's just inexperienced and excited and thinking "how would we split a boat?" it sounds like. Really yall would just sell it and split the profit to do what you will, unless you were feeling generous and wanted to gift him the boat but that's more father-son fishing partners thing than friends haha

He would be able to buy plenty of boat with his half of the voucher if he wanted. Not sure how difficult the situation is to understand though... if he's really struggling to get his head around it you may be in trouble...

It was mentioned already, but there's Taxes involved to the tune of about 35%.. so winning a $30,000 truck or boat, you will end up with a $10,000 tax bill. Obama has to get his cut of the winnings too.

I mention this because your half or his half doesn't mean you each get $15,000 ( on a $30K win ).

If you supply the boat you should be getting 70% anyways.

Is 70% a common way most guys split it.
I was curious if the boater should get more of a percentage?

For me it would be split the cash 50/50 and a prize like a boat would go to whoever actually won it, depending on the type of tournament. Whichever way, I'd make sure that it was decided on before the tournament. There was a post on here about this where a family member had an issue of splitting winnings after taxes were paid because he never paid his taxes.

I'd even take it one step further and put it in writing with both of you signing it. Things can get hairy when money is involved.

I won a boat in the mc d's at rayburn. me and my partner vaguely agreed we would split any winnings. well, I never imagined I would win a boat, caught a 3.00. I didn't want the boat because I had just bought a new one. well before we even left the parking lot he had his hand out wanting me to give him $10,000, my 1099 I received said it was worth $19,900 and change. I told him I could not do that and I couldn't give him anything until the boat was sold. He was not happy about it and I had to tell him like it was. This is kin folk, been fishing together since I was about 10 years old, we were pretty close, and all of the sudden he is turning on me over this. Well, I gave in to him by trying to sell the boat for what my 1099 said it was worth. Well, 6 months later and well over $1,000 out of MY POCKET I have not been able to get the boat sold. If I don't sell it by the end of the year, the amount of the 1099 is added to my annual income and the taxes are based off the tax bracket that puts you into. All this time he has done absolutely NOTHING to try and help the cause all this time other than hold his hand out wanting to know when he is gonna get his money. I explained to him that my goal was to sell the boat by the end of the year for whatever I could get because of the tax burden it would put on me. I ended up selling it for $10,000 the week before christmas. Of course, his hand is out immediately wanting $5,000. I explained to him that after my taxes were done I would give him half of what was left after I took out for my expenses to sell the boat, and as you can guess, this is an ugly situation. He said that he doesn't pay taxes so I should not be taking out anything from his half for tax purposes! I ended up profiting about $3,700 out of this and I lost a good friend, so I thought anyway, and fishing partner out of the deal.

Simply put if the Boats Value was $41,000 then hes liable for Half the Taxes up front. then as a "Partner" he should Help sell the boat for His Half the Proceeds . Whatever that figure should be. At that point he Makes a Profit from the Balance, as do you. That's Half in my Opinion.... if he doesn't want it That way , then tell him he is in Neglect of your Verbal Contract, to sell the boat and split the profit and pay all taxes due. And Sell the Boat , and Enjoy your Winnings. Tell Him Friends are Friends and Business is Business . If you Loose a Friend it'll be because He's a Dumbxxx.

I have won a couple boats in team tournaments. I supplied the boat but we split all actual expenses and we split the sale of the boat 50/50.
There is no way the guy whose boat they fished out of deserves 70%. It is a team deal you chose to fish with the guy, probably a friend too, who owns the boat doesn't matter.
As far as taxes the state of texas only charges sales tax, no where near 35%. If you win a certificate and sale it you by pass those taxes and the person that buys the certificate pays the taxes when he registers and titles the rig. You will pay income taxes on the value of the boat but can write off a loss against it if you sell the boat for less.
Winning a boat is about as exciting as it gets for a weekend warrior don't ruin it by loosing a friend and fishing partner.

I hope the guy who doesn't pay taxes lives off the grid, and makes his own poles and everything. Every purchase he makes he pays taxes.