How much the Mega Millions lottery is after tax in MO and KS

lottery federal tax rate
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But the winner shouldn't spend all that After all, the federal income tax rate goes up to 37%, and you can assume that the winner is in the top

Lottery winnings are considered taxable income for both federal and state taxes · Federal tax rates vary based on your tax bracket, with rates up to 37%

lottery tickets numbers The IRS automatically takes 25% of any lottery winnings as tax money, so you can already drop that cash lump sum to $451,875,000 The sign on

lottery mega millions powerball jackpot after taxes However, before getting your winnings, you'd have to pay a 24% tax withholding, which the IRS requires for winnings over $5,000 Out of the