Someone wins million on tv what is takehome 650000? or all and claim on taxes at regular rate?

Question

Someone wins million on tv what is takehome 650000? or all and claim on taxes at regular rate?

Answer 1

They'll withhold at least 20% for federal, but the person would be wise to either ask them to withhold more, or make immediate estimated payments to the IRS, and also their state if the state has an income tax.

Answer 2

I expect they will withhold so your number is close to correct.  Any state tax could reduce it even further.  Better to have all the tax withheld and then hope for a refund when you file.  One doesn't want to have to pay a huge amount.