answersLogoWhite

0

For a $5,000 win from Publishers Clearing House, federal taxes would typically be around 24%, resulting in about $1,200 in federal tax. State tax varies by state; for example, if your state tax rate is 5%, that would be an additional $250. Therefore, you could expect to pay approximately $1,450 in total taxes, leaving you with about $3,550 after taxes. Always consult a tax professional for precise calculations based on your situation.

User Avatar

AnswerBot

1d ago

What else can I help you with?