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California Lottery investigating $1M payout

Topic closed. 46 replies. Last post 2 years ago by Jill34786.

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United States
Member #111446
May 25, 2011
6323 Posts
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Posted: September 10, 2012, 3:09 pm - IP Logged

A new 3.8% Medicare contribution tax will take effect in 2013. This new tax will be implemented even if the Bush tax cuts are extended and is based on a minimum AGI of 250k for married, 200k for single.

Those NJ resident lucky enough to win next year will be looking at a total tax obligation of 54.15% on their AGI. Those who live in states that don't have state income tax will be looking at Federal tax obligations of 43.4% an increase of 24% from 2012...if the Bush tax cuts are extended you would save 4.6% (39.6-35%) from these figures.

More good news!

Shouldn't we be adding an additional 4-5% "tip" tax as a courtesy to the government, for taking all their time and trouble to withhold this money. What?

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    Windermere, FL/Franklin, TN
    United States
    Member #50210
    March 1, 2007
    839 Posts
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    Posted: September 10, 2012, 3:21 pm - IP Logged

    More good news!

    Shouldn't we be adding an additional 4-5% "tip" tax as a courtesy to the government, for taking all their time and trouble to withhold this money. What?

    I Agree!

    It's amusing that the few clowns I have seen on TV who boast about wanting to pay more somehow never follow up on their desire. Perhaps the IRS should implement a "tip" line so that those fortunate few who feel the need to give Uncle Sam spending money to waste can do so.