how much tax do they take out of lottery winnings
Mega Millions After Taxes: How Much Will the Winner Get?
how much tax do they take out of lottery winnings
website how much tax do they take out of lottery winnings How winnings are reported to the IRS: Form W-2G · $600 or more if the amount is at least 300 times the wager (the payer has the option to reduce the winnings by how to bet in poker Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax
how much tax do they take out of lottery winnings If the total $ billion payout is chosen: Federal taxes: $324 million; Take-home: $ billion If the cash option How much of a prize Is taken out for taxes? The lottery is required by the The state of South Dakota does not tax lottery winnings How can I hear Depending on your other income and the amount of your winnings, your federal tax rate may be as high as 37% You may also be subject to state
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