How much tax on one million dollars from Publishers Clearing House, that you have to pay the US Government?

How much tax on one million dollars from Publishers Clearing House, that you have to pay the US Government?

Postby halfburinn30 » Thu Feb 17, 2011 10:50 am

Right now, that's taxed as ordinary income. If married, the amount over $250,000 is taxed at 35%. State income taxes (if any) must also be paid. Figure you'll keep around $600,000 - or a bit more.

Congratulations!
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How much tax on one million dollars from Publishers Clearing House, that you have to pay the US Government?

Postby garwyn » Thu Feb 17, 2011 10:52 am

If you sign the check over to me, I will let you know @ tax time :)
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