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The 2024 federal tax brackets place the Mega Millions jackpot winnings at a 37% tax rate, whether the winner opts for the lump sum or not That's because the 37
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Here's the truth with gambling taxes: both cash and noncash gambling winnings are fully taxable What are cash winnings? Cash winnings include money you
how do you win on slot machines Winnings received are not taxable as they are windfalls and not considered as an income You do not need to declare the winnings in your Income