Mega Millions jackpot hits $940 million If you win, here's the tax bill

if you win a million dollar lottery how much is taxed
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If you are a nonresident, Wisconsin Lottery winnings are taxable to Wisconsin Wisconsin income tax withholding from a lottery prize is

However, once your prize is in a bank account, any interest earned on your prize is subject to income tax for both you and any gift recipients If you currently

if you win a million dollar lottery how much is taxed Cash prizes: If you enter a drawing and win $1,000, you've won a cash prize Other ways to win cash prizes could include sweepstakes, a game

if you won a million lottery jackpot Assuming the cash lump sum payout is selected, after taxes you will actually receive approximately 30% of the advertised annuity amount You