If I win $500,000 contained by the lottery, how much bread would I ?
receive after taxes? I'm assuming this is a one time cash payout.
Answers:
From what I remember hearing you end up beside about 60% of the amount actually won, so $300,000
If you want the lolly payout instead of the 26 annual payments given by the California Lottery then you would receive 50% of the full prize. The federal government would near hold 25% of winnings also.
$500,000 * .5 * .75 = $187,500.
The fed will bear their share right off the top. 25%
You would receive $375,000 depending on your states withholding you may owe another $50,000 in taxes at the ruin of the year. Some states are 8% some are 10% if I remember there may be a few states higher than 10%
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Answers:
From what I remember hearing you end up beside about 60% of the amount actually won, so $300,000
If you want the lolly payout instead of the 26 annual payments given by the California Lottery then you would receive 50% of the full prize. The federal government would near hold 25% of winnings also.
$500,000 * .5 * .75 = $187,500.
The fed will bear their share right off the top. 25%
You would receive $375,000 depending on your states withholding you may owe another $50,000 in taxes at the ruin of the year. Some states are 8% some are 10% if I remember there may be a few states higher than 10%
Related Questions:
Is freelotto a spam or is it true blue?
I get emails that I have won a big amount of money but when I look further I have to present my credit card details so as to pay for the month costing $14.95, before I see if I`ve really won or not. Can someone share some light on this for me please. Thankyou You...
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