Mega Millions lottery winnings: How much do you make after taxes?

what is the tax percentage on lottery winnings   Dan what would you do if you won the lottery essay

Lottery winnings are taxable in India under the Finance Act of 1986 and Income Tax Act at a flat 30% rate There is an extra percentage

rate of withholding of tax shall not be applied by the payer in lieu of the rate imposed by sections 1441 and 1442 un- less the person receiving the winnings In fact, lottery winnings are taxed, with the IRS taking up to 37% Curiously, though, only 24% is withheld and sent directly to the government

free recharge in tc lottery While lottery winnings of $600 or less are not reported to the IRS, winnings in excess of $5,000 are subject to a 25 percent federal withholding Thus the effective tax rate on lottery winnings comes up to % Besides, if the winnings are above a specified limit, they are liable to a