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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.
What else can I help you with?
Do you have to be a citizen to win the Powerball lottery?
No, you do not have to be a citizen to win the Powerball lottery.
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.
How many numbers do you need to win Power Ball lottery in Virginia?
To win the Powerball lottery in Virginia, you need to select five white balls and one red Powerball. The white balls are drawn from a set of numbered balls ranging from 1 to 69, while the Powerball is drawn from a separate set of balls numbered from 1 to 26. To win the jackpot, all six numbers must match the drawn numbers. There are also smaller prizes for matching fewer numbers.
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
