On the show "Deal or No Deal," how much tax to the winners pay?

Question

Example: If someone wins $100,000, what do they have left after taxes?

Answer 1

You better like this anwer i have had to answer it twice .

You pay half up front on a prize over 50,000. In your question that is 50,000 and when the year is up you add the 100,000 to your other income and deduct the state taxes you have paid to figure out the state taxes you owe on the money. You will then pay that amount to the state. When you figure out the federal taxes you will include the 100,000 again and deduct the 50,000 along with the state tax paid and the federal taxes paid on all other earnings and that is when you will get a good part of the 50,000 back. The least you should get back is 2,000, and that is assuming you are rich to begin with It is more likely you will get back around 30,000.

Answer 2

the irs will take minimum of 20% i'd guess and if the state the winner lives in has state tax they would have to claim it on when income taxes were filed

Answer 3

For the $1,000,000 prize, federal taxes alone are 40%. For lesser amounts, it depends on how much they win. Their winnings are considered to be income, so it's added to what they made at work as well.

Answer 4

I'm not too sure, but I think it's something like 20%, so they would end up with like 80,000 off of 100,000.

Answer 5

I would guess at least 25%