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How much federal and state taxes are on 57.5 million lottery winnings?
Wiki User
∙ 15y ago
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.
Wiki User
∙ 15y ago
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∙ 12y ago800,000
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Do you pay state and federal taxs on MD lottery?
do I have to pay State and Federal taxes on Md. lottery winnings
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.
CAn a convicted felon claim lottery winnings in the state of Arkansas?
can a convicted felon claim a mega million or powerball lottery winnings in georgia
Do you pay taxes in Washington State on lottery winnings?
Washington State does not have a personal income tax, so you will not pay any state income tax. You will still pay Federal income tax on lottery winnings, though.
What is the federal tax ID number for the NY State Lottery gambling winnings on form W-2G?
14-1588338
What is the percent taxed on lottery winnings in pa?
There are no state or local taxes on lottery winnings in Pennsylvania. There is however a federal tax of 25 percent of the winnings for any prizes that are over $5,000.
What state in the US has the most lottery winnings?
Pennsylvania, with twelve.
If your brother wins the lottery and buy you things can they take it if you are paying child support?
The State will not take your brother's lottery winnings, or the personal property he gives you from those winnings.
If your brother wins the lottery and buys you expensive things can the child support office do anything about it?
The State will not take your brother's lottery winnings, or the personal property he gives you from those winnings.
Can child support put a hold on a refund?
Tax refund, yes - also, State lottery winnings and virtually any other State or Federal payment (excluding public assistance/SSI).
If your brother wins the lottery and buys you things can the child support order order you to sell it or give it up?
The State will not take your brother's lottery winnings, or the personal property he gives you from those winnings
Can a person with a ca id collect winnings in pa lottery?
Yes, state residency is not a requirement for playing the lottery. All that matters is that it is actually your ticket and that you report any larger winnings to the IRS.
