900 million? Help me spend my money

SSHZ

Well-Known Member
government will take at least 60%
so from a billion... you'll be left with somewhere around 400mill
I believe that is incorrect......you only pay federal tax, not state on the winnings I thought. Taxes would be about 40% max.
 

Beemo

Well-Known Member
I believe that is incorrect......you only pay federal tax, not state on the winnings I thought. Taxes would be about 40% max.
you still have to pay state taxes on top of fed taxes.....
and you have to be the only winner
 

SSHZ

Well-Known Member
And remember the full amou
you still have to pay state taxes on top of fed taxes.....
and you have to be the only winner
Well, we are both wrong. 6 states have no state tax and you are not required to pay state tax: Fla, N.H., Tenn., Texas, S. Dakota, and Wash. 2 states exempt lottery winnings, PA and Calif.. So, it all depends on where you live.
 
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