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

Lottery prizes of $5,000 or more are subject to federal income tax withholding As a result, if you win a jackpot worth that much, 24% of your

1, 2018 Non-Video Lottery prizes over $5,000 will have both the 8% state and 24% federal taxes withheld Video Lottery prizes only have the 8% state tax

federal tax on lottery winnings Before you see a dollar of lottery winnings, the IRS will take 25% Up to an additional 13% could be withheld in state and local taxes,

federal tax rate for lottery winnings Federal withholding was below the winner's tax obligations Nonresident lottery winners have 30% of winnings of at least $600 withheld While the