401k payout at end of employment

[eej062]

What is the name of your state? Georgia

I wanted to know basically what the best procedure was to get a payout on 401k (I don't want a transfer I want a payout), as far as taxes go. Does my company tax the amount before giving me the remainder or do I need to put a chunk aside for taxes I'll owe at the end of the year?

 

[enjay]

The company should withhold federal taxes. You should set aside money for state taxes and penalties.