How much is Property taxes a year on 5.9 million dolloars?

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There is no property tax on cash. The property tax on land or real estate valued at 5.9 million dollars will vary depending on the location, the purchase price and (in California) the purchase date.
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How do you deduct property tax payments from your federal income taxes in a year when you both sold and bought property in Illinois?

Answer . For the property you sold, you may have property taxes you already paid that year before the sale. Additionally, you will give the buyer a credit for property taxes accrued up to the date of the sale. Deduct both of these amounts.. For the property you purchased, you may pay property ta ( Full Answer )

How much in taxes is owed on a four million dollar lottery prize in the state of Texas?

\n. \n Answer \n. \n. \nAnnuity or lump sum?\n. \n. \n. \nY-THINK-Y\n. \n. \n. \n Answer \n. \nWhichever way you accept the winning, it will be taxable when received, and withheld on in accordance with the rules below.\n. \nHow much you actually pay depends on your total income/l ( Full Answer )

How much in taxes is owed on a nine million dollar lottery prize in the state of Illinois?

\n. \n Answer \n. \n. \nHere I heard it's 45% for lump sum plus 18% for state and city taxes....around 63% GIVE OR TAKE\n. \n. \n Answer \n. \nEvery time this Q comes up it seems people want to make it much more difficult than it is.\n. \nLottery winnings are treated like any other ( Full Answer )

What year was the first property tax instituted in the US?

In 1798 Congress enacted the Federal Property Tax to pay for the expansion of the Army and Navy in the event of possible war with France. In the same year, John Fries began what is referred to as the "Fries Rebellion," in opposition to the new tax. No one was injured or killed in the insurrection a ( Full Answer )

How do you deduct property tax payments in the year you bought property?

Like anything else, you apply the appropriate amount on the appropriate schedule when you file your tax return.. There are four types of deductible nonbusiness taxes :. State, local and foreign income taxes; . Real estate taxes; . Personal property taxes; and . State and local sales taxes. . ( Full Answer )

How much does a tax accountant make in a year?

Tax accountants will roughly make between $45,000 to $55,000 a year. This is for entry-level positions. The salary increases based on performance, experience, etc.

How much are your property taxes for one year?

Answer . Answer depends on where you live. No one answer fits all scenarios. Property taxes are based on "assessed values" of property i.e what your property is worth at a particular point in time compared to SIMILAR properties in your area that have SOLD within a 3 to 6 month period. Once you ( Full Answer )

What would be property taxes in Florida on a 2 million dollar house.?

Property taxes are very local.. Also, the value used as a tax assesment value is different than the "market value" that you are probably referring to. In fact, the assessed value for properties of what may be the same market value varies from one tax area to another, depending on when they are tren ( Full Answer )

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 yo ( Full Answer )

Do you have to pay the taxes for the entire year on property purchased in October?

No, most of the time. The entity who pays real estate taxes which accrues to property, regardless of the ownership period, is generally established by agreement between the parties.. Most of the time, real estate, ad valorum taxes are pro-rated. That is, the taxes due, are divided by the length o ( Full Answer )

How much does property tax cost?

The property tax rates are set in each town. You would need to contact the town in which you are interested.

How much are taxes on one million dollars?

Check the Wisconsin State Statutes in Wisconsin for taxes on lottery winnings. It will give you the percentage. ans Well that wouldn't be exactly true..the STATE (or Federal) tax laws may tell you what the required withholding on some income is, which is an estimate of tax FOR THAT jurisdicitio ( Full Answer )

How much federal and state taxes are on 1 million in lottery winnings?

Taxed both Federally and State at your ordinary income rate, it's just like any other income, whatever that rate for you would be - (depends on many factors, dedcutions, other income, other expenses, businesses, etc).. The State and Fed will withhold an amount of the payout as an estimated tax (lik ( Full Answer )

How much are property taxes in Vallejo California?

it depends on the price of the home you purchase. the less the appraised value is, the less you pay in taxes. the higher the more money spent on taxes. its safe to say about 1.25% of your home purchase price is due annually. for example a 169k home purchased would be 2112 bucks per year. payable in ( Full Answer )

How much is property tax in California?

The property tax in California can vary from year to year. However, to calculate the California property tax for one's home is quite simple. The tax can not exceed more than 1% of the home's value and can not increase more than 2% from the previous year.

How much will the taxes be if you win a 2 million dollar house?

For Single filing status, 2008 tax is $678,597 (2 million multiplied by 35 percent minus $21,403). For Married Filing Jointly, 2008 tax is $671,575 (2 million multiplied by 35 percent minus $28,425). For Head of Household, 2008 tax is $675,409 (2 million multiplied by 35 percent minus $24,59 ( Full Answer )

How much interest would you get from one million pounds after tax?

At the moment, not worth more than rocks!!. You are lucky to get 60k a year, which is nothing in these days.. Better off sleeping on the mil unless you have a couple of mil to throw away incase its dodgy! There are some good deals going around but its a close call and somewhere between a 50-50 cal ( Full Answer )

How much in taxes is owed on one million dollars?

You are the only one that has all of the necessary information that will have to be reported on your 1040 FEDERAL income tax return for the year in order to do the calculation for the numbers that you are looking for. After you complete your 1040 federal income tax return correctly to your TAXABLE ( Full Answer )

How much is the property tax in Hamilton NJ?

The property tax rate for Hamilton Twp NJ is 3.763% which is the 2009 rate. The 2010 tax rate will be released with the 3rd Qtr billing due 8-1-10. Many towns are late to establish a tax rate and hence extend the third quarter due date. To calculate the property taxes per year charged to your pr ( Full Answer )

How much does an 18 year old get from taxs?

Tax refunds are based on a number of factor such as tax liability,tax withholding, filing status, and dependents. An unmarried 18year old that is not attending college and has no dependents willnot get more than what was withheld, since they do not qualify forrefundable credits.

How much are property taxes in Los Angeles county?

Property taxes are simply the property tax rate for the area you live in multiplied by the tax assessed value. The tax assessed value does not always equal the market value, so you need to find out what the tax assessor has your property appraised for. It could be higher or lower than market. If ( Full Answer )

How much are property taxes if you win a house?

The property tax rate in your local area will be the same per year no matter how you acquired the property. The rate will be a percentage of the value of the home.

How much is taxes for a 16 year old?

When your income tax return is completely correctly then you will know the amount of your federal income tax liability. This answer will only be known after you determine the amount of your gross income that will be taxable income to you on your income tax return. For an example if you are a qua ( Full Answer )

How much are property taxes in Philadelphia PA?

The property tax rates are set in each town. You would need to contact the town in which you are interested Go to the below enclosed website for more information The Department of Revenue is responsible for collecting real estate taxes. Please visit the Department of Revenue W ( Full Answer )

How much tax to be paid on property sold?

It's treated as capital gains; you only pay tax on the profit (the amount you sold it for, minus the amount you paid for it plus any improvements you made). "How much" varies, if you can't figure it out, you should probably consult a tax professional.

How much is 1 million hours in years?

1,000,000 hours is equal to 41,666 and 2/3 days, which is equal to around 144.155251 years. The way I got this is easy. You divide 1,000,000 by 24, to get the number of days that many hours equals. Then, you divide this number of days by 365 (assuming you don't count leap year every four years. If y ( Full Answer )

How much is 1 millage in property tax?

One mill is a real estate tax levy of 1 dollar for every one thousand dollars of assessed value. The real estate levy is known as the millage rate. For example, if your city or county has a current millage rate of $21 per $1,000 of assessed value and the current assessment for your home is $100,000, ( Full Answer )

How much of your taxes will you get back at the end of the year?

Your tax refund - if you get one! - depends on how much you have paid out and what deductions you take on your returns. See your tax preparer to find out specific information about your taxes, as WikiAnswers cannot do taxes for you.

How much are Cleveland property taxes?

Property taxes in all states depend on the size of the property and its location. In Ohio homes have property taxes in the 1.5 - 2.5 % range of the purchase price. Ohio also has city wage taxes generally in the 2% to 3% range.

Does dolloar expires?

American dollars never expire. We can still use the 2 dollar bills from before they stopped being made!

What is property tax and how much does it cost?

It's a city tax you pay twice a year on your property-based onpurchase price, generally it is taken care of for you by mortgageservicer out of escrow acct monthly. They set aside based on whatis projected and pay it when billed for you. The percentage isdifferent for ea. state. if it's 1 percent and ( Full Answer )

How much taxes on 1.5 million in il. law suite?

This will completely depend on what kind of law suit it is and whatthe damages are for in the award as determined by the court. If itwas a loss of income you may have taxes on the award or on part ofthe damages. If it was for an permanent injury you may not pay anytaxes at all for the award. I will ( Full Answer )

What is property tax?

Property taxes are taxes on the value of owned property. Sometimes they are classified as either specific or ad. PropertySpecific taxes are of a fixed amount based on a number, or standardof weight or measurement. Ad property taxes are based on a fixedproportion of the value of the property with re ( Full Answer )