NO I DIDN'T WIN,,JUST TRYING TO SETTAL A DISAGREMENT ON THE AMOUNT OF TAXES THAT WOULD BE OWED
2006-11-11 01:10:12 · 6 answers · asked by bmkc1074 1 in Business & Finance ➔ Taxes ➔ United States
It will vary according to the tax bracket that you are in. You can pretty much estimate it at about a third. It also depends how you win it and where. Some state lotteries do not charge state taxes on state residents who win, others do.
If you are at the highest Federal tax bracket it wll be 35%.
2006-11-11 01:22:27 · answer #1 · answered by Aggie80 5 · 0⤊ 0⤋
Lets put it this way. Richard Hatch who won the first "Survivor" reality show contest - earned a cool million dollars. By the time Federal, State and other taxation elements in government go through with his winnings - he had about $500,000 left.
You do the math.
2006-11-11 01:32:52 · answer #2 · answered by Victor ious 6 · 0⤊ 0⤋
3200 dollars is the correct amount , I had a friend win a hundred thousand and received 68,000 after taxes , going by those figures the amount would be 3200 in taxes.
2006-11-11 01:14:49 · answer #3 · answered by Anonymous · 0⤊ 0⤋
theyd withhold 20% how much you owed would be determined by your filing that year, what your total income was.
2006-11-11 01:14:00 · answer #4 · answered by David B 6 · 0⤊ 0⤋
This would depend on your state...some have state tax and do not.
2006-11-11 01:20:42 · answer #5 · answered by pinkicef99 1 · 0⤊ 0⤋
Too much.
2006-11-11 03:37:41 · answer #6 · answered by Bethany 6 · 0⤊ 0⤋