Lottery tax -
Lottery tax -
The 2024 federal tax brackets place the Mega Millions jackpot winnings at a 37% tax rate, whether the winner opts for the lump sum or not That's because the 37
How much are lottery winnings taxed? When you win the lottery, your winnings are considered ordinary taxable income Your prize money is taxed Lottery agencies are generally required to withhold 24% of all winnings over $5,000 for taxes If your winnings put you in a higher tax bracket,
extruded aluminum t-slot accessories The 2024 federal tax brackets place the Mega Millions jackpot winnings at a 37% tax rate, whether the winner opts for the lump sum or not That's because the 37 Mega Millions and the Powerball lotteries have collectively hit over $1 billion But if you happen to win one how much will Uncle Sam want?
