SOLUTION: Suppose a married couple won the Mega Million and took it as a lump sum of $345,000,000. What is the federal income tax on their winnings? If Taxable Income is Over $470,7000 Bu

SOLUTION: Suppose a married couple won the Mega Million and took it as a lump sum of $345,000,000. What is the federal income tax on their winnings? If Taxable Income is Over $470,7000 Bu

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Question 1187498: Suppose a married couple won the Mega Million and took it as a lump sum of $345,000,000. What is the federal income tax on their winnings?
If Taxable Income is Over $470,7000 But Not Over ------ The Tax Is $131,628.00 Plus 39.6% Of the Amount Over $470,700
Answer by ikleyn(52798) (Show Source): You can put this solution on YOUR website!
.

Literally as it is written at the end of your post.

Do you have difficulties in calculating it ?

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