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

how much is the tax on lottery winnings
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You have to pay the taxes for those winnings in full The point is valid for all winnings, regardless of how you might have acquired those funds

The top federal tax rate is 37% for income over $500,000 When it comes to lottery prizes, the first thing that happens after you turn in that Winning, receiving a share of a win or being gifted money has no tax implications on the initial amount and does not need to be reported to us

infinix hot 10i price in nigeria slot No, winnings are taxed at a flat rate of % They are not taxed at the tax slab rate of the individual Q- When will awards be tax-free? Hit the jackpot? Learn how your lottery winnings are taxed Discover key strategies to manage your windfall and financial obligations