Tax Tips for Lottery Winners Allen Barron, Inc

The 2024 federal tax brackets place the Mega Millions jackpot winnings at a 37% tax rate, whether the winner opts for the lump sum or not That's because

income tax if the prize payment is includable in your federal adjusted gross income for the tax year If you are a resident of New York City or Yonkers, the

lottery result nr 353 If you are not a resident, you will typically have a flat 30% federal withholding, and state taxes may differ from what is listed above Consult with your

lottery cash payout According to CNBC, these jackpot winners would then have to pay another 13% in federal taxes to satisfy the income tax requirement The Oregon