How much will Mega Millions winner get after taxes? $ billion

how is the lottery taxed
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Section 194B of the Income Tax Act requires 30% TDS on lottery & game show winnings over Rs 10000, with an effective tax rate of %,

For prizes over $5,000, the Lottery is required to withhold 25% for federal taxes, and 8% for state income taxes For Video Lottery℠ Platinum Series

how to play the lottery online income tax treatment of lottery prizes This guidance applies specifically The lottery prize payment is gambling winnings taxed as ordinary income

how does syndicate lottery work Unlike salary or professional income where people are allowed to take deductions or allowance, winnings from contests are fully taxable This is