Lottery Tax Calculator: How Your Winnings Are Taxed

100 000 lottery after taxes
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100 000 lottery after taxes Any payout over $5,000 after deducting the cost of the wager will automatically have 24% withheld for federal taxes The actual rate at which  The amount won is taxable as income on the US federal and state tax returns and the amount you net after tax is dependent on the person's tax  The top federal tax rate is 37% for income over $500,000 The first thing that happens when you turn in that winning ticket is that the federal

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