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tax on $1 million dollars lottery

tax on $1 million dollars lottery

Mega Millions lottery winnings: How much do you make after taxes? tax on $1 million dollars lottery Yes, lottery winnings are taxable under state and federal law In Pennsylvania, all lottery winnings are subject to the commonwealth's % taxes on $1 million dollars lottery winnings The IRS considers lottery winnings to be taxable income For tax purposes, the IRS views your payout similarly to wages earned from your job As

taxes on 1 million dollars lottery winnings There are also additional federal taxes of about 37% In total, you'll be paying more than $19 million Your total annual payment in California

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