lotto question please answer?
Question by I Compared Clutch Reels and LeBron is still KING: lotto question please answer?
2 questions
if I win the lotto and they take out the federal and state taxes from the start.(most lottos take it out from the start.Do you pay more taxes at the end of the year.
then here is my next question.
If you win the lotto and get put in a high tax bracket,the next year say you make 100,000 in interest are you still in a high tax bracket or do they only tax on what you made that year.do they only take money from the interest made the next year.not from the money in your bank
Best answer:
Answer by Beverley M
You would only pay taxes at the end of the year based on whatever you earned in income from investments . The lotto money itself is not taxed again.
Yes… if you make 100,000 in interest that is what you are taxed on… Not the principle .
Lotto question please answer?
Yes, the odds of hitting the lotto are much greater than receiving your refund on time or getting a straight answer as to when YOUR $ $ might actually be repatriated with you.
Cheers