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Posted by cytbit248 2 years ago In:

cytbit248
cytbit248 Asked:

How much do you have after you win 100.000 after taxes

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Book
Book Answered:

Assuming you are in the U.S., and you're talking about $100,000...

The Federal Government will withhold $28,000, although they will want for another $11,600 when you file your yearly return.

Your State Government may want as much as $11,000.

So, you get to keep about $50,000...unless the winnings puts you in a higher tax bracket - then you'll owe additional taxes on your regular income.

C'est la vie.

 

I'd agree with you, but then we'd both be wrong.
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Pete
Pete Answered:

I agree with the answer above, you can expect to keep about half of your winnings If you live in the USA.  Now if you lived in Canada it would be tax free and you would get 100% of the winnings.

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