Mega Millions lottery winnings: How much do you make after taxes?

what percentage of lottery winnings go to taxes
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Right away, 24% of that cash value is withheld for federal taxes and goes to the IRS, TurboTax explains So if the Powerball winner does select

Twelve percent goes to government in the form of straight taxation Five percent goes to the 25,000-odd Lotto retailers and the 10,000-odd

what time does lottery close in florida Winnings are taxed the same as wages or salaries are, and the total amount the winner receives must be reported on their tax return each year Before the winner

what to do if win lottery Lottery winnings are considered taxable income for federal tax purposes and your winnings are taxed the same as your wages or salary Most prize winners pay a