How much taxes will be due on a US lottery winner after deductions

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Lottery winnings are considered taxable income for both federal and state taxes Federal tax rates vary based on your tax bracket, with rates up to 37% Winning

US Mega Millions - Lottery prizes are subject to taxation at source There are three tax bands Tax Band 1: Tax-free up to $ Tax Band 2: Any prize

lottery rn How much are lottery winnings taxed ? Lottery winnings are subject to federal income tax at a rate of 24%, and some states may also impose their own tax on

lottery result ticket Tonda Lynn and her relatives found this out when the IRS, backed up by the Tax Court, ruled that there had been no binding contract to share the lottery