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if i won the Michigan lottery for $250,000 how much

Customer Question
if i won the Michigan   lottery...
if i won the Michigan   lottery for $250,000 how much would i recive after taxes?
Submitted: 11 years ago.Category: Tax
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Answered in 29 minutes by:
9/14/2006
Tax Professional: Ed Johnson, Tax Preparer replied 11 years ago
Ed Johnson
Ed Johnson, Tax Preparer
Category: Tax
Satisfied Customers: 10,760
Experience: GPHR Cert; U.S. Treasury Tax Advocacy Panel appointee
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DearCustomer

In Michigan a 25% federal tax will be withheld as well as a 3.9% state income tax.

So after taxes you will receive approximately: 177,500 dollars.

 

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