What happens if you win a 1 million $ in a lottery ticket

taxes on 1 million lottery
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Out of the $ million cash value, that would be about $ million you'll lose up front However, because you'd be bumped into the top

All must pay lottery tax of % with cess if the winning amount is above Rs 10000, regardless of their income, winnings, age, If I won today's $550 million jackpot, I'd pay 24% in federal taxes, plus 4% in state taxes What they're saying: It's difficult

cash88 slot Personal Income Tax Facts: Taxpayer Davis, a computer programmer, buys 15 lottery Issue 1: Must Davis include her lottery winnings in her Massachusetts gross Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax