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    stack1's Avatar
    stack1 Posts: 1, Reputation: 1
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    #1

    Nov 14, 2010, 05:52 AM
    How much I should pay for a 5000 winning ticket
    How much should I pay for a 5000 winning ticket
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    Nov 14, 2010, 06:40 AM

    It is merely income, you will pay at the same tax rate you pay. A guess, ( are you in the US, are you in a state that has income tax, what tax rate are you at)

    So for me I would pay about 1500 to 2000 in taxes most likely
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #3

    Nov 14, 2010, 07:35 AM
    If you are non-resident, the withholding rate is 30%, unless it is lower under a specific tax treaty.
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