How much will Mega Millions winner get after taxes? $ billion

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How do I calculate lottery lump sum after taxes? · Check how much the lump sum payout differs from the advertised lottery prize

The Lottery Department shall withhold Virginia income tax at the rate of % on the proceeds from any lottery prize in excess of $5,000 The tax shall be If the winner takes the payout, as many do, the federal tax would cut the prize by around $149 million In an estimate from USA Mega, an

ky lottery games Before you see a dollar of lottery winnings, the IRS will take 25% Up to an additional 13% could be withheld in state and local taxes, Are gamblinglottery winnings subject to Michigan individual income tax? · Residents: report the amount of wagering losses you deducted on Form 1040