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

how much do they tax lottery winnings
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Before getting your winnings, you'd have to pay a 24% federal tax withholding, which the IRS requires for winnings over $5,000, CNBC explains

Lottery winnings also count as income, so by winning the jackpot, the ticketholder has been pushed into the 37% tax bracket for those with The federal government withholds 24% of your winnings immediately You may owe additional federal taxes depending on your overall tax bracket Each state also

best online poker machines australia The current TDS rate on such winnings is 30%, with the total tax liability, including surcharge and cess, amounting to % Winning award The TDS of % is a flat tax on the winning amount; it will not be added to your income and you will not be able to benefit from your income tax rate slab