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

Income Tax on Awards & Prizes federal lottery tax calculator The tax information provided here is based on 2024 federal marginal rates and state tax rates We show both the initial mandated federal withholding of 24% as federal lottery tax Virginia Lottery prizes are subject to federal and state income taxes For any prize over $5,000, the Virginia Lottery automatically withholds

federal government grant real facebook lottery winners list The tax rate will be determined by your income on your federal income tax paperwork Taxes on Lottery Winnings, Raffles, Charity Drawings, and