If you won 100 million dollars how much would you get after taxes?

If you won 100 million dollars how much would you get after taxes?

Postby min-ki » Tue May 31, 2011 6:46 pm

Lets say you got the Cash Option.
This will give you about 1/2 the proceeds at one time
50 million.
Then you have to pay taxes.
So you could get 25 million
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If you won 100 million dollars how much would you get after taxes?

Postby dohosan » Tue May 31, 2011 6:47 pm

How much taxes you pay are normally based on your income.
Winning 100 million dollars is not the same as earning 100 million dollars.
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If you won 100 million dollars how much would you get after taxes?

Postby guido » Tue May 31, 2011 6:49 pm

IF and you can dream about it yes. 100,000,000
Backup Withholding (BWH Rate Table)

28.0% on payments after December 31, 2002 until December 31, 2012. To be determined thereafter.
Another 10% for state would be about 38% out of 100000000 = 38000000 leaving you with about 62000000 to throw away as you would choose to do.
so just keep on dreaming as you go along in your life and enjoy it now while you can.
This is just a ROUGH estimate under the CURRENT tax rules until the end of the tax year 2011.
Hope that you find the above enclosed information useful.05/29/2011
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If you won 100 million dollars how much would you get after taxes?

Postby gwen43 » Tue May 31, 2011 6:51 pm

it will depend a lot on the rest of your income, your status, your dependents etc
but of the 100mil you might see $670000
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If you won 100 million dollars how much would you get after taxes?

Postby rocco76 » Tue May 31, 2011 6:54 pm

You could hire a pretty good tax lawyer and probably pay nothing in taxes.
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