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Old 12-01-2005, 06:27 PM
Miles Ahead Miles Ahead is offline
Join Date: Jun 2005
Posts: 72
Default Re: Dannenmann interview on

That's pretty standard for gambling winnings in the US. It's a "luxury tax" at a very high rate.

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It's not a luxury tax. It's treated as ordinary income, and it bumps him up to the highest tax bracket: 35%.

The state tax bracket (in Maryland) for him is 4.75%.

39.75% of 2.25 million is $894,375, which leaves him with $1,355,625.
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