What Is the Tax Rate for Lottery Winnings? - Money

lottery winnings after taxes
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After these taxes are levied on the $ billion, the winner could be left with $ million of the total amount, according to CNBC Then

Your winnings are considered taxable and are added to your ordinary income when taxes are calculated If your earnings are big enough, they can The federal government will take 24% off the top of lump sum winnings from a lottery jackpot Then it is the state's turn

jane park lottery winner net worth Lottery wins are subject to a 30% TDS rate However, the TDS rate increases to % (including surcharge and So, when you take the cash option, you will end up with $294,251,812 after federal taxes Now it is the state's turn State tax rates on lottery