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

tax in lottery winnings
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In New Hampshire, you won't have to pay state tax on your lottery winnings because the state doesn't have an income or sales tax (That's great

The federal tax on the lottery is determined by the federal marginal rates, which is 37 percent in the highest bracket In practice, there is a 24 percent

tax on lottery winnings California lottery We do not tax California Lottery or Mega millions Visit Schedule CA Instruction 3s for more information How to report

taxi slot game If your winnings are reported on a Form W-2G, federal taxes are withheld at a flat rate of 24% If you didn't give the payer your tax ID number, the withholding