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

federal lottery taxes
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Pennsylvania withholding is required on such prize payments whenever tax is required to be withheld for federal income tax purposes The tax is required to

Prize money = taxable income: Lottery winnings are taxed like income, and the IRS taxes the top income bracket % The government will

federal lottery taxes The federal government withholds 24% of your winnings immediately You may owe additional federal taxes depending on your overall tax bracket Each state also

federal lottery tax calculator federal withhold- ing tax Proceeds from a wager are figured by subtracting lottery , the wager must have been placed in a lottery conducted by an