Smart tax strategies for lottery winners - Tax Insider

if you win 10 million in a lottery how much is taxed
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That's because when anyone wins the lottery, the IRS withholds 24% of the winnings off the top With a large jackpot, if the winner opted for the lump sum cash

For example, the United States government imposes a 25% federal tax on any Mega Millions prize above $5,, while the jackpot is subject to a 39% federal

if you win the lottery do you get taxed The more popular lump sum option would be reduced to $ million after a 24% federal tax withholding, while a federal marginal rate as high

if i ever win the lottery there will be signs A mandatory 24% federal tax withholding on that amount would reduce your winnings by $ million However, because the top federal marginal