Here's the tax bill for the winning $ Mega Millions ticket
Here's the tax bill for the winning $ Mega Millions ticket
Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax
Right off the bat, one must consider that the federal government taxes lottery winnings at 24 percent, knocking the cash prize down to a mere ( If you take the prize as a one-time cash payment, you will get a mere $930 million, before taxes million dollars in investment capital you
national lottery scratch card checker The top federal tax rate is 37% for income over $500,000 When it comes to lottery prizes, the first thing that happens after you turn in that lottery ticket has some value until the lottery occurs and it is determined that the ticket did not win A winning lottery ticket might be worth $1 million
