Publication 140-W - FAQS: New York State Lottery Winners -

if you win a million dollar lottery how much is taxed
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Assuming the cash lump sum payout is selected, after taxes you will actually receive approximately 30% of the advertised annuity amount You

In addition, the Lottery is required to report to the IRS gambling winnings that are $600 or more, and at least 300 times the amount of the wager State Income

if i won the lottery what should i do The lottery automatically withholds 24% on all prizes over $5,000 for federal taxes For a $1 billion lump sum, that would be $240 million Note

if i win the lottery there will be signs meme 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