According to Forbes, Jay-Z pulled in $63 million over the past year placing him in the 35% tax bracket, which means a partial of his earnings will go to pay Uncle Sam an estimated $22 million.

Kanye West’s earnings fell from $25 million last year to $12 million this year in the wake of his highly publicized outburst during Taylor Swift’s acceptance speech at the 2009 Video Music Awards. With a new album and world tour in the offing, he should be back toward the top of next year’s list along with 50 Cent, who took a break from touring and recording to concentrate on film roles over the past year, earning $8 million, a relatively paltry total for the 2008 Cash King.

Drake Hip Hop’s rookie of the year earned $9million thanks to the release of Thank Me Later, partnerships with Sprite and Virgin America. Check the jump for the official list

1. Jay-Z – $63 Million
2. Diddy – $30 Million
3. Akon – $21 Million
4. Lil Wayne – $20 Million
5. Dr. Dre – $17 Million
6. Ludacris – $16 Million
7. Snoop Dogg – $15 Million
8. Timbaland – $14 Million
9. Pharrell – $13 Million
10. Kanye West – $12 Million
11. Drake – $9 Million
11. T.I. – $ 9 Million
12. Swizz Beatz – $9 Million
14. Eminem – $8 Million
14.50 Cent – $8 Million
14. Young Jeezy – $8 Million
17. Common – $7 Million
18. Soulja Boy – $7 Million
18. T-Pain – $7 Million
20. Lil Jon – $5 Million
20. Gucci Mane – $5 Million
20. Rick Ross – $5 Million