How are Lottery Winnings Taxed?

How much tax would be owed on Mega Millions' $1 billion ticket? lottery federal tax rate Based on the Federal progressive tax rate structure whereby income tax rates increase as income increases, the income tax rates arising from partnership lottery sambad result 6_00 baje ka Right off the bat, lottery winnings over $5,000 are subject to tax withholding of 24% Additionally, depending on how much you are taking home

lottery sheet result 51% of each dollar goes to tax revenue: federal, state, and municipal · 18% goes to covering expenses, such as advertising or retailer