how much taxes do contestants have to pay on Deal or No Deal?

2 ⤊

how much taxes do contestants have to pay on Deal or No Deal?

2007-05-04 11:30:04 · 3 answers · asked by Kenny D 1 in Business & Finance ➔ Taxes ➔ United States

3 answers

Winnings are ordinary income, and are taxed at whatever rate the winner's total earnings indicate.

2007-05-04 11:43:21 · answer #1 · answered by Judy 7 · 2⤊ 0⤋

Every penny received is taxable, like all other sources of income, so how much taxes are payable would depend on the amount of winnings, which would affect the tax bracket or the total income earnings of the tax-payer in that particular year.

2007-05-04 11:57:50 · answer #2 · answered by dynaxty 1 · 0⤊ 0⤋

well i do know that if you win a million dollars after taxes you only get 463,893.17 bucks GOD BLESS AMERICA!

2007-05-04 12:13:38 · answer #3 · answered by Laura 2 · 0⤊ 2⤋