Winner's Handbook You Just Won Big!

Winner's Handbook You Just Won Big! tax on $1 million dollars lottery Fourteen states don't levy additional tax on lottery winnings: Alabama, Alaska, California, Delaware, Florida, Hawaii, Nevada, New Hampshire, tax lottery Lottery winnings, considered taxable income, are subject to both federal and state income taxes The Internal Revenue Service imposes a

tax lottery The federal government will take 24% off the top of lump sum winnings from a lottery jackpot Then it is the state's turn

taxes on $5 Federal lottery taxes are determined by the income bracket the winnings fall into Currently the two highest income brackets are taxed at 37% If you take the prize as a one-time cash payment, you will get a mere $930 million, before taxes million dollars in investment capital you