Lottery Tax Calculator

5 million lottery after taxes
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Then, because lottery winnings are counted as income, an additional 37 percent tax will be levied against the sum, dropping it to $251,753,040

Generally, the federal government taxes prizes, awards, sweepstakes, raffle and lottery winnings, and other similar types of income as ordinary income, no If you were to win a lottery prize of $200,000, your total income for the year would be $250,000, which would put you in a tax bracket of 35% (

red devil slot machine However, winning is almost virtually impossible The odds of winning a jackpot are estimated to be around 1 in 200 million This means that if you play every 5 weather alerts in