Lottery Tax Calculator: How Your Winnings Are Taxed

website 1 million dollar lottery after taxes The IRS charges a flat rate of 24% on all lottery winnings over $5,000 For example, if you won $1 million, you would pay around $240,000 in 18823 lottery result Though some states do not have a state lottery tax withholding, they all must withhold 24% in federal tax on prizes as large as this jackpot

1 million dollar lottery after taxes after taxes, totaled about $24,000 Editor's Picks Healthcare workers split million dollar lottery ticket · Woman wins $175K after ending up  You are taxed on anything you win, whether it's cash, an item, a trip, or a service Winnings are subject to federal and state income taxes Most tangible  Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax

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