Here's the tax bill for the winning $ Mega Millions ticket

Here's the tax bill for the winning $ Mega Millions ticket what is the federal tax rate on lottery winnings Key Takeaways · You are taxed on anything you win, whether it's cash, an item, a trip, or a service · Winnings are subject to federal and state income taxes what time does the lottery start Any payout over $5,000 after deducting the cost of the wager will automatically have 24% withheld for federal taxes The actual rate at which

what time does the lottery start Winnings from lottery and gambling activity must be reported on your tax return and are fully taxable by the IRS and most state governments The

what is poker game Income from lottery winnings and online games are included under the head 'Other source of Income' and is taxable at the special rate of 30% Regardless of which option the player takes, the IRS takes a minimum 24% federal withholding tax upfront on lottery winnings That's a big