Monopoly 1,000,000?

Question

if you win a million dollars, how much taxes would they take out????

Answer 1

about one thrid.

taxes suck!

Answer 2

Depends on the State.

The Feds will take about a third no matter what you do.

Then you get to pay STATE income tax... unless you live in Texas, Florida, Arizona or one of the other states that don't have a state income tax.

Then, if you live in Yankee-land, you might get to pay a CITY income tax... I know NYC has has one I don' t know if any other cities do.

So if you live in Texas you get about $650,000 out of your million... if you live in Yankeeland or California where they elect Democrats you get to keep between $500,000 to $400,000 depending on where in Yankeeland you live.

Answer 3

May depend on your particular state and the taxes there. I've also heard anywhere from 22-46% they would take out.