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

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Personal Income Tax Facts: Taxpayer Davis, a computer programmer, buys 15 lottery Taking part in a lottery does not constitute a trade or business even when

Winning the lottery can affect your tax bracket in a big way An average family's top federal tax rate could go from 22% to 37% But remember, if that happens, Some states have no income tax or don't tax lottery winnings, but others have top-income state tax brackets exceeding 10% Powerball isn't

riot slot Gambling winnings are fully taxable and you must report the income on your tax return Gambling income includes but isn't limited to winnings from lotteries, How to calculate gambling duty ; 1 Totalisator betting in connection with horse racing, 25% x (Amount of bets received - Winnings paid out