In california what is the tax amount on $30.000?
I won a BMW vauled at $30.000 what will the tax amout be on this prize item.
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6 Answers
First…congratulations!
How cool is that? lol
Whatever the amount, ( doubt it would exceed a 10–15% tops, but don’t know for sure )
A couple of grand for a 30k prize…..not a bad deal, if you can afford it.
Don’t forget Federal tax. you have to pay that as well. You will most likely get a 1099-MISC form in the mail some time in February 2011.
Congratulations!
@worriedguy
Kinda rubs a bit of the shine off the grand prize ey? lol
It’s impossible to answer without knowing where you bought the car. There are State Taxes, County Taxes, and City Taxes and they vary from place to place.
@Coloma Yes it does. But it’s still better than nothing.
Correction: I meant won the car.
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