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In the UK there is no tax on lottery winnings, if you win £750.00 you get to spend all of it.
Wiki User
∙ 10y ago
Wiki User
∙ 12y agothe tax would be approximately 40 million
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What are the taxes on a 2 million dollar prize?
The tax on a two million dollar lottery jackpot is around 30%. The winner would thus be paying around $600,000 in taxes before they saw the money at all.
How much taxes are taken if you win a 34 million dollar lottery in Illinois?
Lottery winnings in Illinois are subject to a state income tax rate of 4.95%, and federal tax can range from 24% to 37%, depending on your total income. Additionally, there may be other local taxes to consider. It is recommended to consult with a tax professional to determine the exact amount of taxes owed.
How many percentage amount paid tax for euro million winner?
how many percentatge of amount pay for euro million ticket
Is there a tax penalty for those who receive help from extreme home makeover?
No "penalty". The value of what they get, just like any game show winner (or lottery winner, etc), is simply taxable income, with tax due at their normal rate. It is possible that the show could provide some $ to compensate for it (which is taxable too, although if "grossed up" it can fully cover any tax).
What is the name of the tax you pay when winning the lottery?
Income tax.
Can you receive s tax refund if you won a million dollars playing the lottery?
Yes. The lotery win is not included in your tax (in most countries) thus if from your paid ernings you are owed a tax refund you should/will get it. Next tax year you will be liable to the intrest earnings on your win.
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.
Do disabled veterans in New Jersey pay taxes if they win the lottery?
No. Your lottery winnings will be reported on your 1040 federal income tax return and the taxable amount will be subject to the income tax at your marginal tax rate.
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.
What percentage of tax do you have to pay on a large lottery win in India?
75
What is the tax rate in Texas two step lottery jackpot?
8.25
How much tax is taken out of Decades of dollars lottery in Ga?
34%
