Mega Millions jackpot: How much will the winner pay in taxes

what is the federal tax rate on lottery winnings
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The payer will deduct 24% from your winnings on the spot if you win above a certain amount · You'll report your winnings and your tax payments when you file

How Are Lottery Winnings Taxed? The IRS will charge you federal tax on the net amount of your lottery winnings The net amount is the total of

what happens when you win a slot jackpot While lottery winnings of $600 or less are not reported to the IRS, winnings in excess of $5,000 are subject to a 25 percent federal withholding

what are pot odds in poker 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