0
The federal maximum marginal tax rate for the 2010 tax year is 35% and then you would have your state income taxes.
Lottery winnings are taxed like any other income.
That amount or percent of course changes with everyones personal situation, other income, expenses, deductions, exemptions, STATE (and state income tax is a deduction to Federal taxable income, so that changes may things), dependents, etc.
It is fair to say that 2 people, winning the same lottery would pay different taxes.
Wiki User
∙ 14y ago
Wiki User
∙ 11y ago29%
25%federal
4%state
Add your answer:
Earn +20 pts
Do you have to pay taxes if you win a car?
If you win a car you are responsible to pay taxes in the state where you live.
What do you win in powerball with two numbers with the powerball number?
Nothing.
Do you win anything if you have 4 numbers without Powerball?
Yes , if I have 4 number s did I win anything? No powerball
What do you win in powerball with two numbers without the powerball number?
You get nothing.
What do you win with 3 numbers on Powerball?
$7 with just three numbers and no powerball.
What happens if you win the pb in Powerball?
You get rich.
What do you need to win in Powerball?
You have to play first.
How many numbers do you have to get to win on the lotto?
It depends on how big a prize you want to win. You can win a prize with even one correct number. For example, in Powerball, if you match just the Powerball number, you win $4.00. For Ozlotto, you are required to get 7 correct numbers, none being any of the 2 supplementary numbers. In Powerball you are required to get all 5 numbers plus the Powerball to win the biggest prize.
How do you make a million dollars this year?
Win the powerball. ;)
What do you win in Powerball if you have five of the numbers?
Nothing
How much is a powerball ticket cost?
If you only have one number and It is not the powerball you don't win anything. However if you do have the powerball as your one number then you win 4$ to find more of the ways to win go to the power balls website, on the side click the 'how to play' link, then in the description their will be a link that is blue and it says '9 ways to win' and if you click on that it will show you the other ways to win.
Do you have to pay taxes if you win an Olympic medal?
Yes, Olympians must pay taxes on their medals as of now. However, they also receive money for winning medals too. Currently Congress is debating whether Olympians should have to pay taxes.
