Lottery Tax Calculator

Because the federal government counts lottery winnings as income, the winner could be moved into a tax bracket facing a tax rate as high as

The 2024 federal tax brackets place the Mega Millions jackpot winnings at a 37% tax rate, whether the winner opts for the lump sum or not NY 10036

nykd055 Financial Advisors in New York, NY While Americans are generally allergic to high taxes, the high tax rates on lottery winnings haven't

ny lottery winning Is the tax rate different for different lotteries? No All gambling winnings are treated equally This means if you win Mega Millions, Powerball or a state