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If I won $500,000.00 from the the lottery or reality show, how much is my net after tax?

Asked by: Jesica Hogan 1361 views YA Discussion

This isn’t a homework question (I’m a grown-azzed man,lol). Therefore I’m just curious/embarrassed of my lack of knowledge as to the estimate of sum post taxation. Hmprh, uhm. Thanks in advance.

How others found here:

  • was is the federal withholding tax on $500 000 00
  • how much is taxes on500000
  • how much is 500000 after taxes

6 Answers



  1. Overrated on Sep 17, 2011 Reply

    When you win money like that, good old Uncle Sam welcomes himself to 30% of it.

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  2. Ashley on Sep 17, 2011 Reply

    You’ll get about half taken out for taxes

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  3. tro on Sep 17, 2011 Reply

    of this payout, probably $ 325000

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  4. shayan on Sep 17, 2011 Reply

    It depends, different states have different tax rates and some even have none.

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  5. Andy L. on Sep 17, 2011 Reply

    It depends if married or single, and how much your other earnings are, plus you could have state taxes. You can deduct expenses to win the money, including every lottery ticket you bought that year if you have receipts, but roughly, there is about $ 105,000 in federal taxes on the $ 500,000, leaving you with $ 395,000 minus state. It is higher with other income and is $ 175,000 maximum tax for net of $ 325,000 or more.

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  6. Chas on Sep 17, 2011 Reply

    By law the show has to take out 25% of the winnings as withholding for federal taxes. State withholding would be additional. The actual taxes would be a little more when you actually file the return based on your total earnings.

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