2006-10-13 14:13:15 · 13 answers · asked by prettyboynorth2003 1 in Politics & Government ➔ Government
It's taxable like any other income. I believe the state taxes are per the state where the money is earned, so that would be wherever they tape the show. Your home state may want to tax it too, but you can usually arrange things so you only pay in one jurisdiction.
You could put a small chunk in an IRA and defer that much. Otherwise, check your tax tables.
2006-10-13 15:23:25 · answer #1 · answered by John's Secret Identity™ 6 · 0⤊ 0⤋
it is call the "windfall profit tax" they would take exactly 1/2 of your winnings leaving you with $36,500.
the main mistake made by many people who win large amounts of money is that they don't know how to manage the money they win. my suggestion: hire a good accountant.
2006-10-13 21:21:08 · answer #2 · answered by Fluffington Cuddlebutts 6 · 0⤊ 1⤋
just like my pay check 35% unless you have a good accountant! after a 100,000 it goes up it depends on state to
2006-10-13 21:16:13 · answer #3 · answered by Anonymous · 0⤊ 1⤋
I think the government takes 10% off the top which would be $7,300.00 - 73,000.00=(65,700.00 is yours)
2006-10-13 21:54:53 · answer #4 · answered by mom of a boy and girl 5 · 0⤊ 1⤋
what you win is more than you had before you played
2006-10-13 21:24:13 · answer #5 · answered by DyrtByrd 4 · 2⤊ 1⤋
Nearly 60%. Aint that a b itch?
2006-10-13 21:15:59 · answer #6 · answered by Anonymous · 1⤊ 1⤋
Figure 40-50%. And they get theirs before you get yours...Bummer,eh?
2006-10-13 21:51:10 · answer #7 · answered by Vinegar Taster 7 · 0⤊ 1⤋
they would take as much as they felt like taking
2006-10-13 21:22:07 · answer #8 · answered by shorty_2_us 3 · 0⤊ 3⤋
a lot
2006-10-13 21:25:37 · answer #9 · answered by Dejan 2 · 0⤊ 1⤋
about 23k
2006-10-13 21:16:02 · answer #10 · answered by Anonymous · 0⤊ 1⤋