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What would I owe in taxes for a lump sum cash lottery winning?
Wiki User
∙ 11y ago
After it is all paid to you, you will still have to pay about 39 percent in taxes. For instance, if you won 2 million, the lum sum would be 1,300,000. At tax time, you will be paying at least $120,000 more in taxes, and even more if you have an income already. I know from experience. Always find out what you'll owe in taxes before you spend much. Then you can spend and invest in peace. Don't forget your investments will be taxed too! Get a good CPA.
Wiki User
∙ 11y ago
Anonymous
One lump some
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What would you owe in taxes for a lump sum cash Wisconsin lottery winning?
your lumps sum lottery winning are subjected to upwards of 40 percent lottery windfall tax then again at the end of the year for earned income
What is the likelihood of winning the KY lottery?
It would depend on what you would play. The Kentucky Cash Ball lottery is one of the main ones. The chances of winning a lottery for 200,000 is approximately 1 in 1,200,000
Effects of winning the lottery?
A lot of cash
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i dunno I don't know
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This is one of the lottery games available from the state. Winning numbers are posted on the website each week.
What is tonightnumbers going to be on the Georgia lottery?
1106 will be the cash 4 winning number tonight.
When do you received your cash winning?
When you receive your cash winning depends on the company where you won the money. It also depends on how much you won. With the lottery, instant tickets up to $500 can be paid immediately.
How do you think I can Make a lump sum cash?
You can make lump sum cash by winning the lottery. You could also sell something that you own such as a car or house.
Does fast cash today really exist?
That would be nearly impossible without robbing someone or winning the lottery. Money has to be earned or borrowed, so I don't think it's possible to do that.
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Where do you cash a winning scratch - off ticket?
Get a lawyer to do an appraisal and copy it and picture it and return to the store you bought it from and cash in OR READ RULE in the back. - Phong Market2SuccessOnline.com
If you win a lottery, is it better to take a lump sum of cash or take your money in installment monthly payments?
If you take it in a lump sum of cash, you will lose money because they take more taxes out of it.
