If your marginal tax rate is 35% the amount of federal income tax would be 21000.
if i earn £5000 a year what percentage of tax should i pay
That all depends on your personal circumstances and the country you pay your tax in.
People pay tax based on income. You might be asking how much do they withhold for taxes from your winning and it is normally 20%.
i make 7200 a year
The settlement will be listed as income on your Federal tax return. You will pay the tax percentage of the bracket you are in that year.