How much money will you get after taxes if you win the Mega

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Right away, 24% of that cash value is withheld for federal taxes and goes to the IRS, TurboTax explains So if the New Jersey Mega Millions

The Internal Revenue Service imposes a federal tax rate of 24%, and California's state income tax, with rates ranging from 1% to %, Tax Rate: Winning from lottery is taxable at a special rate of 30% No deduction is allowed Also no benefit of slab rate can be taken

22 1 24 lottery result In Pennsylvania, all lottery winnings are subject to the commonwealth's % state personal income tax, plus an additional 24% through federal The winnings from the games need to be more than Rs 10,000 If someone has won a game, a competition, or a lottery, they will have to know about Section 194B