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

how much lottery after taxes
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The federal government will take 24% off the top of lump sum winnings from a lottery jackpot Then it is the state's turn

In that case, all of it is taxed at 37% This can be calculated using a tax calculator Lottery winnings are combined with the rest of your taxable income for As per the Income Tax rules, money won in a lottery or any competition is taxable You will have to pay a flat 30 per cent of the winning amount

world series of poker free chips The Connecticut Lottery Corporation requires a winner to complete federal Form W-2G where the amount paid to the winner is $600 or more, and at least 300 times Most states charge a tax on lottery winnings, but a few — including California, Delaware, Florida, Texas and Tennessee — do not Additionally,