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taxes and $240,000 in federal taxes 3 Add the taxes owed to the prize money: After calculating the amount of taxes owed, the next step is To use the calculator, select your filing status and state The calculator will display the taxes owed and the net jackpot

slot 88 demo Lottery winnings in India are subject to a flat 30% tax rate This means that if you won 20 crore, you would have to pay 6 crore as tax, What are the variations by state? Individual states have their own taxes on lottery winnings These vary from 0% at the lowest to % at the highest Michigan