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

Lottery Tax Planning for a Billion Dollar Drawing federal lottery taxes Lottery and Gambling Winnings · Withholding Rate from Gambling Winnings New Jersey Income Tax is withheld at an amount equal to three percent (3 federal lottery tax First, any prizes above $5,000 will be hit at least with a 24% federal tax, regardless of which state you are in The winner may owe additional

federal lottery taxes The CT Lottery is required by law to report and withhold federal income tax on all gambling winnings valued at more than $5,000 (Under certain