So how much tax do I actually pay?

Reply #10

maximumfun — Fri, 24 May 2013 18:08:14 GMT

LOL

Reply #9

rdgrnr — Thu, 23 May 2013 14:49:20 GMT

Death Panels don't come cheap.

Reply #8

BuyLow — Thu, 23 May 2013 12:57:28 GMT

The top tax rate is 39.6% and there is a question whether there will be MORE taxes levied via ObamaDeathCare

Reply #7

maximumfun — Thu, 23 May 2013 12:46:43 GMT

wont it actually be more than the 35% now? what with the 3.8% obama-care tax

Reply #6

noise-gate — Thu, 23 May 2013 02:53:14 GMT

Just because california does not have state tax on the Lottery winnings does not mean that the Feds will let you off the hook from paying the other 14% tax because when you win, you climb into a higher tax bracket. There is always a price to pay when you running with the big dogs.

Reply #5

rdgrnr — Thu, 23 May 2013 02:34:58 GMT

I like that idea.

But not a chance.

Not in this environment.

The military is on the enemies list too.

Reply #4

gogidolim — Thu, 23 May 2013 02:25:12 GMT

If that's the case then I would hope the money goes to build another stealth destroyer for another F-22.

Reply #3

rdgrnr — Thu, 23 May 2013 01:51:25 GMT

So how much tax do I actually pay?

The utmost farthing.

Remember, under Fundamental Change we're now penalized for being successful or accomplishing anything.

Understand that it's no longer fair for you to have all that money to yourself when there are other people who feel entitled to it because they don't have any.

You will now be one of the hated rich and you will be a whipping boy.

You will share with the downtrodden who, through no fault of their own, just don't like to... [ More ]

Reply #2

redhot7 — Wed, 22 May 2013 19:35:44 GMT

please use this online calculator but subtract medicare taxes because lottery money is exempted from medicare and SS taxes

Reply #1

haymaker — Wed, 22 May 2013 18:39:26 GMT

The 25% is w/holding, just like your paycheck is not enough is w/held you will owe more.

The top rate can be as high as 39.6%

You are lucky in Jersey I will also pay 10.8% state tax.

So how much tax do I actually pay?

gogidolim — Wed, 22 May 2013 17:57:04 GMT

There's no state tax obligation in CA. But people keep saying that winners will end up paying 35% of the winning by the next tax season. I am confused. The winner's guide clearly states that citizens and legal residents will pay 25% of federa; tax with no state tax. Why would anyone pay 10% of extra tax when there's no state tax obligation