58% New York City Tax RatePrevious TopicNext Topic

If the proposed federal tax rate hikes are approved by congress, New York City (Yonkers) residents would have around a 58% total tax liability on a multi-million lottery jackpot . . 45% + state tax amount for everyone else.

Approximate percentages:

39.60 proposed 2010 top federal tax rate

  5.40 proposed federal health care surcharge

  8.97 NY state

  3.65 NY City

    .90 Yonkers

stop buying tickets, its only way to hit em where it hurts. in the sack of loot they call a budget.

I would agree that ceasing purchases can hinder some business's. THe Main culprit of the tax is the fed's. PLaying or not playing isnt going to impair the deficit we are in or create any concern.

As to the Feds- not getting 35 mill from a person isnt going to change their spending habits, otherwise they would have called in all the loans we have made to deadbeat countries....tighten up the antics of military spending.

Never did quite get the jist of why NYC and its boroughs had to get there hands dirty with taxes....

yeah im sorry but i kind of get a little angry at someone who didnt chip in for a share taking OVER HALF THE FREEKING JACKPOT. that I win.

......and when you spend "that" money - you also pay SALES TAX, about 6-8% depending upon the state. All cities dont have City Tax though.