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Tax
Shaniya2009
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May 22, 2009, 11:18 AM
Tax
If a person was to receive a large lump sum of money and wanted to deposit it in their bank account how much taxes would you have to pay each year?
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Shaniya2009
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ebaines
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May 22, 2009, 11:38 AM
Depends on how much income this money would generate each year. If you simply left in a non-interest bearing account, then you would have no income from it and so no taxes would be owed.
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