How much money do you pay in tax on powerball?
July 8, 2010 - 8:27 am
If you Win $10,000 on powerball how much would they take out in taxes????? And do they pay you all at once???
It depends on where you live, on whether your state has a state tax or not.
(Did you know you asked this question in the UK taxes category?)
July 8th, 2010 at 2:05 pm
depending on your other income you would most likely pay 31% federal PLUS your states tax of aboput 9%.
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July 8th, 2010 at 2:26 pm
It depends on where you live, on whether your state has a state tax or not.
(Did you know you asked this question in the UK taxes category?)
References :
July 8th, 2010 at 2:50 pm
They’d probably deduct 25% for federal up front. Depending on your total income for the year and other circumstances, the amount you actually owe/pay might be more or less than that.
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