How much tax would you pay if you won a $630-million Mega

taxes on million dollar lottery
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You are taxed on anything you win, whether it's cash, an item, a trip, or a service Winnings are subject to federal and state income taxes Most tangible

lottery tickets That was the first time this statute has been used against dollar industry In calendar year 1975 , gross lottery handle

taxes for lottery winnings Besides the time-value-of-money discount rate, a lump-sum payout also results in federal tax of 37% on every dollar over $539,900

taxes on 1 million lottery Besides the time-value-of-money discount rate, a lump-sum payout also results in federal tax of 37% on every dollar over $539,900