Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)

1 Bump

If u won the lottery what % does the goverment takes?

I mean over millions of dollars?

Answer Question
 
mamaofficer

Asked by mamaofficer at 10:15 AM on May. 18, 2011 in Money & Work

Level 31 (50,120 Credits)
Answers (11)
  • almost 1/2....maybe 1/3...they take ALOT....
    samurai_chica

    Answer by samurai_chica at 10:17 AM on May. 18, 2011

  • Close to 50% especially if you get the lump sum payment.
    CraftingMama

    Answer by CraftingMama at 10:17 AM on May. 18, 2011

  • More than they should. IMO.
    RelaxedMom2-3

    Answer by RelaxedMom2-3 at 10:19 AM on May. 18, 2011

  • They need to change that law to 10%.
    mamaofficer

    Comment by mamaofficer (original poster) at 10:20 AM on May. 18, 2011

  • my guess 40%
    --------------
    did you win?
    --------------
    did i ever tell you, mamaofficer, that you are my favorite cafemommmy?
    LOL
    fiatpax

    Answer by fiatpax at 10:21 AM on May. 18, 2011

  • When my husband's cousin won $680,000 in the quick pick Lotto , he was left with $500,000 after taxes.
    geminilove7

    Answer by geminilove7 at 10:26 AM on May. 18, 2011

  • No I did'nt win,no extra money to play. And if u when you will be my favorite cafemom too buddies for life.lol


    mamaofficer

    Comment by mamaofficer (original poster) at 10:34 AM on May. 18, 2011

  • Sorry that's suppose too be (win)
    mamaofficer

    Comment by mamaofficer (original poster) at 10:36 AM on May. 18, 2011

  • first it depends on the state.. some states charge higher than others for taxes on the lotto.

    http://www.lotteryuniverse.com/mega-millions-taxes-on-lottery-winnings.aspx
    xxhazeldovexx

    Answer by xxhazeldovexx at 10:52 AM on May. 18, 2011

  • btw the state is taken off the total winnings not after the fed tax is out..
    xxhazeldovexx

    Answer by xxhazeldovexx at 10:54 AM on May. 18, 2011

Join CafeMom now to contribute your answer and become part of our community. It's free and takes just a minute.
close Join now to connect to
other members!
Connect with Facebook or Sign Up Using Email

Already Joined? LOG IN