What Is the Tax Rate for Lottery Winnings? - Money

if u win the lottery how much is taxed
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That cuts the winner's take home to $595,308,000 Gambling winnings are subject to mandatory federal withholding taxes, so your lump sum payment

A Amount to be withheld The Lottery Department shall withhold Virginia income tax at the rate of % on the proceeds from any lottery prize in excess of The winning cash prize of $747,200,000 after the 24% IRS withholding tax, drops to $567,872,000 But the winner shouldn't spend all that After

liselund slot restaurant Whether it's a significant jackpot or a smaller prize, individuals who win the lottery in Illinois need to account for the state tax Lottery Tax Rate Learn about tax obligations when winning a lottery or prize money in India If you are lucky enough to win a lottery or prize money in a