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

website how much tax is deducted from lottery winnings (A winner must include gambling winnings in his or her federal gross income but may deduct gambling losses from his or her federal adjusted gross income if how long do you get to claim a lottery ticket The winning amount is tax free, however you will be charged when you put it in the bank or when inheritance tax is charged

how much tax is deducted from lottery winnings Before the winner receives any of the money, however, the IRS automatically takes 24% of the winnings The rest of the winnings are expected to be paid by the  The silver lining is that lottery agencies typically withhold 24% of winnings over $5,000 immediately, which could help offset some of the tax  Lottery winnings are considered taxable income for both federal and state taxes · Federal tax rates vary based on your tax bracket, with rates up to 37%

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