Did you win the Mega Millions lottery? Time to think about taxes

Did you win the Mega Millions lottery? Time to think about taxes what are the taxes on lottery winnings
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what percentage of lottery winners go broke While you don't have to report lottery winnings of $600 or less, if you win more than $5,000, the government will hit you with a 24 percent federal withholding

what is 3 of a kind in poker US lottery taxes differ from other countries because winnings are considered taxable income for both federal and possibly state taxes The federal government Congratulations! · In Australia, lottery winnings are classified as tax-free income · This includes all prizes won through Golden Casket, NSW Lotteries, Tatts,