Mega Millions lottery winnings: How much do you make after taxes?

lottery winnings tax
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He reported this payment on his tax return as ordinary income, but he changed his mind several years later and sought a refund of some $305,000, claiming that

What are the lump sum lottery winnings after taxes? The federal tax on the lottery is determined by the federal marginal rates, which is 37 percent in the Federal lottery taxes are determined by the income bracket the winnings fall into Currently the two highest income brackets are taxed at 37%

maharashtra akshay lottery result Since the tax withholding rate on lottery winnings is only 24%, some lottery winners do not plan ahead, and can have trouble paying their Generally, the federal government taxes prizes, awards, sweepstakes, raffle and lottery winnings, and other similar types of income as ordinary income, no