How much will Mega Millions winner get after taxes? $ billion

how much do lottery winnings get taxed
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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

Lottery winnings are considered ordinary taxable income by the IRS Even if an installment winner sells the future income stream to another be counted as less than 5 per cent on the capital invested Allowance for lottery winnings , insurance money , part of inheritances Rate of tax

texas holdem poker online free play In the case of winnings from horse races, income is taxable at % without any exemption limit · There would be no deduction of any Depending on the number of your winnings, your federal tax rate could be as high as 37% as per the lottery tax calculation State and local tax rates vary