How Are Lottery Winnings Taxed by State?

lottery tax federal
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Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax

Mega Millions after taxes The 2024 federal tax brackets place the Mega Millions jackpot winnings at a 37% tax rate, whether the winner opts for the lump sum or

lottery sambad 29 06 23 If you win more than $5,000, you have to pay a 24 percent federal withholding tax However, depending on your annual earnings and tax deductions, you may get

lottery ticket purchase online Before you see a dollar of lottery winnings, the IRS will take 25% Up to an additional 13% could be withheld in state and local taxes,