Question

Ms Harrington won the lottery jackpot for $2,000,000, irs taxes large jackpots at 39.6% how much money will ms Harrington owe in taxes?

Answer 1

Given:

Ms. Harrington won the lottery jackpot for $2,000,000

Tax rate is 39.6%

`\begin{gathered} \text{Money that Harrington owe in taxes=2,000,000}*(39.6)/(100) \\ \text{Money that Harrington owe in taxes= \$}792,000 \end{gathered}`

$792,000 money that Ms Harrington owe in taxes.