- Aug 17, 2017
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From those with knowledge, what kind of assistance/teaching do our players receive in regards to setting their money aside?
The tax rates vary from state to state. The federal laws are universal and undeniable. For $1 million, the current federal rate is 37 percent. Which means that, if the payment is made this year, $370,000 will need to be paid to the federal government by April 15, 2025.
That would be crazy to essentially be a kid, likely paying taxes for the first time in your life, and having to pay $370k.
The tax rates vary from state to state. The federal laws are universal and undeniable. For $1 million, the current federal rate is 37 percent. Which means that, if the payment is made this year, $370,000 will need to be paid to the federal government by April 15, 2025.
That would be crazy to essentially be a kid, likely paying taxes for the first time in your life, and having to pay $370k.
