When you win a big American lottery jackpot, it's both good news and bad news. The good news is that you are rich and have tons of money. The bad news is that you will have to pay tax - Lots of tax. At least you will be much better off than you รับโปรโมทเว็บหวย were. Using a lottery after taxes calculator will tell you how much you get to keep and how much the IRS will get.
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How do you calculate how much taxes you will have to pay on your lottery winnings? First, you should start off with federal taxes. The lottery corporation usually holds back somewhere around 30% for federal taxes. However, the final tax rate may be more than that, so you might end up paying even more when you complete your tax forms at the end of the year. Following federal taxes, you will also have to pay state taxes. Every state is different and some, if you are lucky enough to live in one of those states, don't even tax lotto winnings. But usually, state taxes are about 10%.
So, the sum of all your taxes would probably be around 40%, but could go as high as 50%. But there is even more bad news. You don't qualify for any capital gains breaks on lotto winnings, nor can you do any income averaging to help lower your tax bill.
So then, how much money do you get to keep when you win the lottery in the United States? Expect to keep anywhere between 50% to 60%, in general.
Of course, even with the tax headaches, winning the lottery would be a dream come true, so keep going for it and buy your tickets. Don't let the thought of paying taxes keep you from dreaming about a big win because paying taxes is a problem you should love to have, in this case at least.
Let me finish with some good news for non-American lotto players. If you are Canadian and live in Canada, you don't even need to worry about finding a lottery after taxes calculator. That's because Canadian lotto winnings are completely tax free. However, if you are an American citizen and somehow find yourself visiting Canada, playing the country's lottery games, and winning a big jackpot, you are still required to report your winnings for U.S. tax purposes. Maybe you should just become Canadian; it's just easier over there.
One question often asked by newcomers to the lottery is "do your lottery numbers have to be in order?"Generally speaking, the answer is no because this would make the current long odds seem like a drop in the ocean. Take the MegaMillions draw for example. At present, the odds of winning the jackpot are 175 million to one or thereabouts. If the numbers had to be chosen in the exact order in which they were drawn, the odds would be 56x55x54x53x52x46 or 21,085,384,320 to one! If the current odds seem long, just imagine trying to win with those odds. In essence, it could be decades before anyone won the jackpot and no one would bother playing.
Pick 3
In Texas, there is a game known as Pick 3 where you do have to choose the numbers in order. The thing is, the numbers only go from 0-9 and only three need to be picked. This gives you a 1000 to one chance of winning. These smaller lottery draws are probably your best bet when it comes to scooping lottery money. You should certainly continue to play the larger games for you never know when your day might come. For example, the recent $380 million MegaMillions jackpot was just won by two people; one from Idaho and another from Washington.
A More Balanced Approach To The Lottery
You should be thinking of winning strategies instead of asking: do your lottery numbers have to be in order? An example of an excellent way to reduce your lottery odds comes in the form of a lottery wheel system, also known as balanced wheels. This is an ideal solution for someone who has more than six numbers they wish to pick. For example, if you have 10 numbers, the lottery wheel will give you every single conceivable combination for those numbers meaning that if any six of your ten numbers come up, you will win the jackpot. This sort of system can be expensive but is something that should be considered if you are part of a group.
Your lottery numbers may not have to be drawn in order, but it is still a tall order to choose the winning sequence. This becomes an impossibility if you hope to beat a system that is not random with a random pick. Find a lottery system and stick with it because it drastically increases your chances of winning.