Mega Millions $ billion jackpot: Here's how much you would take

Before getting your winnings, you'd have to pay a 24% tax withholding, which the IRS requires for winnings over $5,000, CNBC explains Out of

Mega Millions $ billion jackpot: Here's how much you would take Before getting your winnings, you'd have to pay a 24% tax withholding, which the IRS requires for winnings In Arizona, for example, after all

Before getting your winnings, you'd have to pay a 24% tax withholding, which the IRS requires for winnings over $5,000, CNBC explains Out of

taxes on 1 million lottery Income from lottery winnings and online games are included under the head 'Other source of Income' and is taxable at the special rate of 30%

Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax

taxes on lottery winnings canada How Our Lottery Winnings Taxed? California, unlike some other states, does not levy income tax on lottery tickets purchased within its borders

If you are in the 22% tax bracket, you will owe approximately $11,000 in taxes on each payment, for a total of $220,000 in taxes over the 20-