Did you win the Mega Millions lottery? Time to think about taxes

The tax applies to prizes greater than $5,000 In the case of the winning Powerball ticket, that's about $ million for the cash option But

Right away, 24% of that cash value is withheld for federal taxes and goes to the IRS, TurboTax explains So in this scenario where just one

when i win the lottery The Internal Revenue Service imposes a federal tax rate of 24%, and California's state income tax, with rates ranging from 1% to %,

when is dv lottery 2024 registration starting 10 lakh However, winning the prize requires you to pay taxes on your winnings If you win Rs 10 lakh, you will have to pay a 30