How much federal tax will be withheld on a winning lottery ticket of $5000? - connecticut lottery
The state of Connecticut has taken the upper-right corner $ 250, but everyone knows what percentage of the biting look CEF?
Monday, January 25, 2010
Connecticut Lottery How Much Federal Tax Will Be Withheld On A Winning Lottery Ticket Of $5000?
3 comments:
It depends on your annual income and number of dependents you claim.
See IRS Withholding simulator for further information:
http://www.irs.gov/individuals/article/0 ...
I would not so much about this, what is rejected, when he make about the amount you owe. Retention is simply an "advance payment of the amount you need - and the balance is held in April.
Likely to hold 40% or less. And the amount you will owe on the total income you have, and load, etc. - probably somewhere between 35 and 40%, according to one estimate.
In fact, won 25,000 in the lottery. the standard deduction at the time was 20%. Then I had the time 1000 additional tax.
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