I just won $600,000 on a scratchoff ticket.Does anyone know?

how much taxes i will have to pay? Is there any way of paying LESS taxes

i think your a lying sack of doodoo...who wins that much money and sits on the computer asking questions about it instead of collecting??

if im wrong you can send some of that money my way, i wont tell anyone

Lottery winnings round 30%, but it could place you in a tax bracket of up to nearly 40%, so you'll lose almost half of it. No, there's no way of paying less.

There's no way to pay less than you owe. You will receive the money less estimated taxes.

Figure on 20 to 25 percent for federal, plus whatever your state income tax is.

When you go to lottery headquarters to collect your check, they'll discuss all this with you and have you fill out the appropriate forms.

gambling winnings are taxed at a hight rate, i.e. 35% or so. They should take the taxes out pryor to giving you your check. One thing you can do, and hopefully you have, is saving all the lottery tickets of non winners. When tax time comes you can deduct the amount of the non-winners from your total winnings...your non-winners can not be more than what you won (highly unlikely). congradulations!!! spend it wisely!!!!

Well if you really won that in some states they will automatically deduct it from your taxes, others will let you have the lump sum and you have to be smart enough to stash back the amount for taxes.

I won $30,000 in June of 2006 and I had to pay 33%. They didn't hold it off the bat so I had to save about 10 grand on my own.

Lame.

3600000 in taxes buddy & no unless you like a free cell to go

25% to 31% talk to lawyer you can give way so much as a gift to family and it is tax free.

no you didnt lol-but if it happened figure on getting 300-350 grand(to be on the safe side)-still more than you had before =)

There are ways to pay less taxes.... you need to find a financial planner, but be VERY skeptical. Most of them aren't that helpful. I came into a big batch of money and I tried to find a way to cut down my tax burden... it's very difficult for a common person. You'll probably end up paying a pretty high rate...

However, consider this - I wish I had.... there are all kinds of "tax credits" that otherwise most of us don't think about because we don't need them. For example, in many states you can get something like a 50%-80% or more tax credit for adding solar or wind power to your home. Let's say you have a tax bill of $50,000, and it costs $40,000 to put solar panels on your home. You could pay the $50k to uncle Sam, or you could spend $40k and install solar panels on your home, then deduct 80% of that from your income taxes. What ends up happening is instead of paying $50k in taxes you pay $18k (subtracting $32k as a tax credit for making your home more environmental)...in the end you pay a total of $58k, but you also get a $40,000 solar power system instead of paying $50k just in taxes.

I'm miffed because I had a huge tax bill a few years ago and I asked all sorts of financial planners and they were a waste of time. I did my own research and found out there are these tax credit things that you can take advantage of.

These types of "tax credits" aren't practical unless you owe a lot of money in taxes, and most people couldn't deduct enough from what they owe to make it worthwhile but in cases like what you have, it's a way of taking money you'd give to the government, and putting part of it into your house.

In any case, you need to find a tax attorney to provide specific appropriate advice for your situation.

nope
you will go to jail if u try to do that
ur so greedy
be happy with what you have
some people dont have anything

Try it....write us from jail and let us know how it worked for ya!

If you're American, chances are you will probably only get about $400,000-$450,000 dollars tops. However, if you're Canadian, you will get all $600,000, because Canada's cool like that.

congrats! and no im not sure im soo sorry though!
help?
http://answers.yahoo.com/question/index;_ylt=AuSsqVjOwEl4bLi8GcaDrZDsy6IX;_ylv=3?qid=20081021175839AA3QR7W

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