Americaâ€™s Got Talentâ€™s fifth winner, Michael Grimm, received only about $200,000 as his prize for winning the show, which advertises its prize as $1 million. Thatâ€™s because he took the lump sum, instead of getting paid over time, and During the showâ€™s second season, I analyzed the fine print of the showâ€™s $1 million prize in detail, discovering that it was worth about $375,000 after taxes, but that was based on 2007-era assumptions about tax rates. The key is that the prize is not $1 million: itâ€™s $25,000 a year or a lump sum. The Sun-Herald reports that Grimm ultimately received â€œa little more than $200,000, he said, once the network got its cut of more than 50 percent and he paid taxes on the lump sum he received.â€ Itâ€™s not clear what NBCâ€™s â€œcutâ€ means, whether he had to pay them something, or if itâ€™s just referring to the reduced value if one opts for the lump sum. Sunday, Grimmâ€™s grandparents moved into a new house; theirs was destroyed by Hurricane Katrina, and Grimm vowed to build them a new house when he won in 2010. That was delayed by shoddy work done by an unlicensed contractor that had to be fixed, according to the paper.