Mega Millions After Taxes: How Much Will the Winner Get?

when you win the lottery how much goes to taxes
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Here's what you need to know about taxation and legal obligations Learn about tax obligations when winning a lottery or prize money in India

Before getting your winnings, you'd have to pay a 24% tax withholding, which the IRS requires for winnings over $5,000, CNBC explains Out of Winnings from lottery and gambling activity must be reported on your tax return and are fully taxable by the IRS and most state governments The

8_00 p.m. lottery result today Depending on how much you win and on your income, you'll then have to pay a further % to make up the total % that's the top income tax Taxation is imposed upon all income sources You may think that lottery winning would not be considered as an income source, but it is