Mega Millions After Taxes: How Much Will the Winner Get?

how much tax is taken out of lottery winnings
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Lottery winnings, considered taxable income, are subject to both federal and state income taxes The Internal Revenue Service imposes a

In Pennsylvania, all lottery winnings are subject to the commonwealth's % state personal income tax, plus an additional 24% through federal may be deducted from total winnings received during the same tax year PA Lottery Ticket Costs The cost of tickets for the Pennsylvania Lottery purchased on or

red poker table Yes, it's true Generally, the federal government taxes prizes, awards, sweepstakes, raffle and lottery winnings, and other similar types of income as Lottery winnings are considered ordinary taxable income for both federal and state tax purposes That means your winnings are taxed the same as your wages or