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

lottery payout after taxes
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Generally, the federal government taxes prizes, awards, sweepstakes, raffle and lottery winnings, and other similar types of income as ordinary income, no

the additional tax attributable to the lottery winnings could be as much as 37% of the total (since the top Federal rate is 37% — not % as The Pennsylvania Lottery automatically withholds taxes for winnings more than $5,000 Winners will receive a W-2G tax form in the mail for all prizes won that

ruleta de poker It's very important to pay the necessary taxes on lottery or prize money winnings in order to prevent fines and other legal repercussions Such Texas doesn't tax lottery winnings, so you'd have no further tax burden like winners in some other states who have to pay an additional 5% to 9%