Winner's Handbook You Just Won Big!

taxes on $1 million dollars lottery winnings
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Lottery winnings that are more than $5,000 get a federal tax of 24%, therefore, you'll be cutting more than $12 million from the annual payments

Should a ticket holder from New Jersey opt for the annuity and hit the jackpot, he or she would pay $246 million in federal taxes and another

taxes on lottery winnings texas How Much Are Lottery Winnings Taxed? · 24% withheld from $930 million = $232,200,000 · Additional amount you need to pay with a 37% tax rate: $111,900,000 · Total

taxes on lottery winnings florida If I won today's $550 million jackpot, I'd pay 24% in federal taxes, plus 4% in state taxes What they're saying: It's difficult