How Taxes on Lottery Winnings Work

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The federal government will take 24% off the top of lump sum winnings from a lottery jackpot Then it is the state's turn

Is Mega Millions $ billion jackpot going to be taxed in California? See how much money you'll get if you win the lottery

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lottery sambad 1124 How much are lottery winnings taxed? If you win nearly a billion dollars in the lottery, you definitely owe federal income tax on it To start, 24% of your