5 Tips for Avoiding Taxes on Lottery Winnings

1 million lottery win after taxes
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After all the federal taxes, including the 24% tax, your total jackpot will be $493,516,045 What do you want to know about life in Sacramento?

How Much Are Lottery Winnings Taxed? · 24% withheld from $930 million = $232,200,000 · Additional amount you need to pay with a 37% tax rate: $111,900,000 · Total 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 37%,

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