$ billion Mega Millions: How is the lottery taxed in CA?

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The winner will owe 24 percent to the IRS in federal tax They will also have to pay additional taxes as the large sum of money will put them in

As previously mentioned, you have to pay federal income tax on lottery winnings Right off the bat, lottery winnings over $5,000 are subject to

lottery ethiopia Lottery winners can claim their winnings in one lump sum payment or annual payments over time Lottery winnings are treated as regular

lottery tv show Texas doesn't tax lottery winnings, so you'd have no further tax burden like winners in some other states who have to pay an additional 5% to 9%