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

Here's the tax bill for the winning $ Mega Millions ticket how much tax do you pay for lottery winnings If your winnings are reported on a Form W-2G, federal taxes are withheld at a flat rate of 24% Income tax is withheld at a flat 24% rate from how to win on slot machines in oklahoma Before you receive your prize money, however, government tax collectors may claim their share of the prize In some lotteries (such as the US Powerball and Mega

how to win on slot machines in oklahoma The amount won is subject to a tax of 30% from the winner, irrespective of any other income the individual might be earning This is maintained

how to win on penny slot machines Regardless of which option the player takes, the IRS takes a minimum 24% federal withholding tax upfront on lottery winnings That's a big chunk Depending on your other income and deductions, amounts withheld by the Lottery on your winnings may or may not be sufficient to meet your total tax obligation