Mega Millions Jackpot Nears $1 Billion—Here's How Much

tax on $1 million dollars lottery   Dan taxes on lottery

Lottery winnings also count as income, so by winning the jackpot, the ticketholder has been pushed into the 37% tax bracket for those with

Meanwhile, other states have tax rates for lottery winnings that generally range from about 3% to almost 11% But in any case, once applicable taxes are taken That's because lottery winnings are treated as income by the federal government and most states, so the jackpots are subject to state and

printable poker rules Group winners of Scratchers, Fantasy 5, Daily 3, Daily 4, Daily Derby, Hot Spot, SuperLotto Plus, Mega Millions, or Powerball prizes of $1 million or more must  Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax