What can New Hampshire lottery winner expect after taxes?

if you win 10 million in a lottery how much is taxed
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Lottery agencies are generally required to withhold 24% of all winnings over $5,000 for taxes If your winnings put you in a higher tax bracket,

A mandatory 24% federal tax withholding on that amount would reduce your winnings by $ million However, because the top federal marginal If you win over $5,000 from a Powerball or Mega Millions jackpot, or any lottery game, state lotteries are required to withhold 24% in federal

ss 391 lottery result today Lottery winnings are considered ordinary taxable income by the IRS Even if an installment winner sells the future income stream to another You'll still be taxed on your portion of the prize if everyone splits it Make documentation that the entire win is not just yours to avoid gift tax Have a