How are Lottery winnings taxed?

how much are lottery winnings taxed
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How are Lottery winnings taxed? All Lottery prizes, regardless of the amount, generally are considered as income by the state and federal government For

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 the 37

how much tax on lottery winnings Lottery winnings are considered taxable income for both federal and state taxes · Federal tax rates vary based on your tax bracket, with rates up to 37%

how to study poker Lottery winnings are considered taxable income for both federal and state taxes · Federal tax rates vary based on your tax bracket, with rates up to 37%