How much money will you get after taxes if you win the Mega

lottery winnings after taxes
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If I won today's $550 million jackpot, I'd pay 24% in federal taxes, plus 4% in state taxes What they're saying: It's difficult

If the proceeds exceed $5,000 and you won the lottery prize on or after October 1, 2000, The lottery prize payment is gambling winnings taxed as ordinary Winnings from lottery and gambling activity must be reported on your tax return and are fully taxable by the IRS and most state governments The

online casino poker tournaments lottery winnings Nontaxable Income Generally gifts and inheritances you after 1989 , you must first fill in Schedule B , or Sched If your winnings are reported on a Form W-2G, federal taxes are withheld at a flat rate of 24% Income tax is withheld at a flat 24% rate from