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How much taxes do you have to pay on your ca lottery winnings?
California does not tax have a state income tax on lottery winnings. The federal withholding rate amount is 25 % to be withheld from the winnings amount.
How much taxes are taken out on lottery winnings in North Carolina?
If I win 1000.00 what do thay take out
How much of lottery winnings can be written off?
Only the amount that is equal to your gambling losses.
Will winning the lottery effect your Social Security benefits?
Lottery winnings will NOT count as a part of your earned income for the earnings test amount because the winning amount from the lottery is NOT earned income. Yes the amount of the lottery winnings will affect how much of your social security benefits will become taxable income on your 1040 income tax return. Depending on the total amount of all of your other gross income including the lottery winnings from 50 % to 85 % of your SSB can become taxable income on your federal income tax return at your marginal tax rate.
How much money would you get after taxes on 1 million dollars winnings?
$500,000
How much federal and state taxes are on 57.5 million lottery winnings?
Find out what the State & Federal Taxes are for your state and deduct the totals from your winnings. I'm sure the lotto officials would be glad to assist you with this or you could hire a financial consultant / accountant with that much money you can afford to hire a trusting professional to help you. If not investigate and do the math just make sure you pay it. The wonderful win, can be disastrous if not handled correctly.
A lottery winner gave his daughter half of his winnings and his brother half as much as he had given his daughter he kept 50 How much did he win?
125
How much in taxes do you pay on 2400 gambling winnings?
There is not certain tax rate on gambling winnings so it will depend on what your taxable income is to determine the tax on winnings. It is ordinary income just like your employment income.
Where do you go to get money if you win the lottery?
To the lottery store of course! Generally, the back of the ticket informs you where to go to pick up your winnings. Pick-up locations will be different depending on how much you win.
If I won the lottery and wanted to share the wealth with children siblings parents and in laws who pays the taxes and how much?
I believe you answered your own question with the "...I won the lottery...".That clearly says it's your winnings. Your just giving some of it to others.The winnings are taxed as ordinary income...the amount or rate depends on your own personal status and factors (like other income, deductions, exemptions, etc) ...and location (State taxes).The others of course won't be subject to income tax on the gift, however, you may have gift tax consequences (which in most family situations are easily avoided).
How much taxes would be taken from lottery win in India?
35% of your gross earnings
How much in taxes would be taken out on a 500 million dollar lottery win?
100.000
