How much money will you get after taxes if you win the Mega

federal taxes on lottery winnings
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The top federal tax rate is 37% for income over $500,000 When it comes to lottery prizes, the first thing that happens after you turn in that

Winners will be responsible for any applicable taxes associated with the prize value unless otherwise specified No substitutions allowed, including cash

federal lottery taxes Regardless of which option the player takes, the IRS takes a minimum 24% federal withholding tax upfront on lottery winnings That's a big

federal tax rate for lottery winnings Winners will be responsible for any applicable taxes associated with the prize value unless otherwise specified No substitutions allowed, including cash