Only logged in members can reply and interact with the post.
Join SimilarWorlds for FREE »

if you won a 1 million$ lottery how much would you probably get after the taxes?

Top | New | Old
SW-User
Every state is different for the mandatory minimum automatic withholding %. Colorado is the lowest at 4% new York is highest at 8.82%
NJ breaks 10
SW-User
New Jersey is 8%. says so right on their state lottery page. so I stand by my statement that New York is the highest at 8.82%
Lol ... total in NJ goes over 10
SW-User
depends, is 1mil the actual amount or the 'jackpot'? if it's the jackpot, they pay by an annuity and youcan roughly cut the amount in just about half for a straight up cash payment. and about 60% left after taxes. and split in half again if there's another (or more times if more) numbers. best to bet on about 30% of the advertised number.
Livinkarma · 51-55, M
😉
Livinkarma · 51-55, M
Better yet 😜
SW-User
@punk8885: yeah, they like to make it easy
booboo · M
depends on the state
SW-User
how about jellystone park?
booboo · M
@punk8885: they'd keep it all, for all those picnic baskets we "allegedly" took... 🙄
This message was deleted by its author.
SW-User
haha
bethany444 · 56-60, F
cherokeepatti · 61-69, F
$600K more or less depending on if and how much any other income you have is for the year.
Not sure that lottery winnings are taxable?
They are, in my state, anyway.
@bijouxbroussard: Ok, thanks (merci)
This comment is hidden. Show Comment
FICA,state tax,city tax, Fed tax at maximun, you lose all deductions ... total tax byte is about 52%
ReaperofTime · 46-50, M
640 thousand
This comment is hidden. Show Comment
Livinkarma · 51-55, M
A big smile ☺
MartinTheFirst · 26-30, M
1 million really. It depends however on where you play, some companies have taxes. There was someone in sweden who won 27000000 USD taxfree
Probably half. And in California, less than that, if I took it as a lump sum.

 
Post Comment