How much will Mega Millions winner get after taxes? $ billion

do you get taxed on a lottery win
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This is true even if you did not make any effort to enter in to the running for the prize Your state will tax the winnings too, unless you live in a state that

Lottery winnings that are more than $5,000 get a federal tax of 24%, therefore, you'll be cutting more than $12 million from the annual payments

dog lottery Income that is not taxable You will not have to pay tax on: lottery winnings and other prizes; some government grants and payments; child support; the tax

dover poker room The fact that Connecticut lottery winnings may not have been required to be reported to the IRS by the Connecticut Lottery Corporation does not excuse a winner