Not that I have won that kind of money. I just wish I would.
Oh, and when I say 'the government' I mean the United States Government.
2007-06-12 16:32:44 · 7 answers · asked by Kosuke081 2 in Business & Finance ➔ Taxes ➔ United States
About 30%
2007-06-12 16:36:04 · answer #1 · answered by Dave 5 · 0⤊ 0⤋
If you had won the money in say for example,the "Lotto",the State Cmptroller will run your name and Social Security number through a nationwide data base to see if you owe any back taxes,child support,property taxes,state taxes,THEN Uncle Sam wants his 34%(single). Next,your home state wants a peice of the pie as well.(28%?)
2007-06-12 16:41:38 · answer #2 · answered by Anonymous · 0⤊ 0⤋
That would depend on how much other income you have. If you didn't have any other income, the tax would be very low, maybe $100 or so. If you have other income, the prize would be added to your other income to calculate your taxes. If you're in a 15% bracket, you'd pay $1500 in taxes - if you're in a 25% bracket, you'd pay $2500 in taxes on the prize.
Tax brackets go as high as 35%, but you have to have a quite high income to be in that bracket.
2007-06-12 19:56:15 · answer #3 · answered by Judy 7 · 1⤊ 0⤋
About 30%.... That's the typical tax
2007-06-12 16:35:56 · answer #4 · answered by deputyrodriguez 1 · 2⤊ 0⤋
It depends upon what tax bracket you're in, including the $10K.
2007-06-13 12:10:52 · answer #5 · answered by jdkilp 7 · 0⤊ 0⤋
Interesting topic!
2016-08-24 05:33:52 · answer #6 · answered by lucrecia 4 · 0⤊ 0⤋
don't bother him anymore and he'll leave you alone for sure.
2007-06-12 16:40:16 · answer #7 · answered by Anonymous · 0⤊ 1⤋