How much $ Mega Millions winner takes home after taxes

how much are lottery winnings taxed
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The same is true at the state level While lottery winnings are subject to state income tax in most states, withholding tax varies from zero (

Personal Income Tax Facts: Taxpayer Davis, a computer programmer, buys 15 lottery tickets each week choosing ticket numbers according to a system she has Your winnings are considered taxable and are added to your ordinary income when taxes are calculated If your earnings are big enough, they can

who wins poker hand Then there are the taxes The IRS immediately takes 24% of all lottery winnings over $5,000, dropping the total to approximately $335,464,000 Winnings are taxed the same as wages or salaries are, and the total amount the winner receives must be reported on their tax return each year Before the winner